Indian govt plans to build strategic natural gas reserve

22 Nov 2023 CW Team

India is drawing up a plan to build a strategic natural gas reserve with a capacity to store up to 4 billion cubic metres (BCM) of imported gas, which can be used in case of supply emergencies and to smoothen the domestic market.

After oil minister Hardeep Singh Puri recently gave a green signal to the idea of setting up the gas reserve, the oil ministry directed Oil and Natural Gas Corp (ONGC), Oil India and GAIL to jointly prepare a detailed feasibility report on the same, people said. The companies are expected to submit the report in three months.

India has evaluated building strategic gas storage in the past as part of its energy security plan but didn't go ahead with it due to its prohibitive costs. The geopolitics-driven frenzy in the global gas market last year, which disrupted India's gas imports and forced some factories to cut production, has brought a strategic policy rethink, people said.

The 3-4 BCM gas storage capacity being targeted now can cost $1-2 billion to build, the person cited previously said. India, which consumed 60 BCM of natural gas last fiscal year, aims to increase the share of gas in its energy mix to 15% by 2030 from the current 6%. A large multi-location storage, a well-laid pipeline network, and a mature gas exchange can help develop the domestic gas market. Large gas storage can also help India become the regional hub and supply to neighbouring countries like Sri Lanka, Bangladesh and Myanmar in the future, the person said.

The feasibility report will present cost estimates, probable locations, construction timelines, and the business and financial models for the reserves, he said. Depleted wells of ONGC and Oil India could be used for the storage, he said, adding that ONGC has already identified two such wells in Gujarat while Oil India is aiming to do the same in the North East.

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..

Company showcases North America-certified machinery and secures new deals

Zoomlion Heavy Industry Science & Technology Co., recently showcased a wide portfolio of North America-certified and customised construction equipment at CONEXPO-CON/AGG 2026 in Las Vegas. The display included engineering hoisting machinery, concrete equipment, earthmoving machinery, mining equipment and construction hoisting solutions tailored to regional operational requirements.All equipment presented at the exhibition complies with North American certification standards, with several models specifically developed to meet local regulatory requirements and site conditions. One of the hig..

Sinoboom Launches Dual-ETM Smart Technology

Sinoboom recently introduced its Dual-ETM Smart Technology at CONEXPO-CON/AGG 2026, designed to enhance battery endurance and operational efficiency in electric boom lifts.The new technology integrates advanced components that enable real-time optimisation of power usage during equipment operation. By calculating the precise power requirement instantly, the system delivers only the energy needed for each movement, reducing the inefficiencies associated with conventional maximum-demand power systems.The solution incorporates multiple sensors—including pressure, weight, length and level sensor..