Flagship Programs For Gas India
This article presents information about the flagship programs for gas India being run by the government of India through the Ministry of Petroleum & Natural Gas. One of the major initiatives in recent times includes the launching of flagship programs for oil and natural Gas in India for strategically planning the storage of crude oil.
The flagship programs for gas India are mainly run with the objective of ensuring energy security. The Government of India is constructing storages for crude oil with total of five million metric tones (MMT) at three different places namely, Mangalore, Visakhapatnam and Padur.
These strategic storages being built under the flagship programs for oil and natural Gas in India would be in addition to the existing storages of crude oil and petroleum products with the oil companies and would serve as a cushion in response to external supply disruptions. The upcoming storage sites for crude oil are coming up at east and west coasts because of the fact that that they are easily reachable from the refining sector by means of marine distribution. These flagship programs for gas India would be of great advantage for the country as it would serve the need in hour of any kind of emergency and would boost the economy of the country also by strengthening the energy security.
The upcoming storage projects which involve building of Strategic Crude Oil Reserves are proposed to be underground rock caverns and are would be ready to operate by 2012. Just to tell you that the underground rock caverns are considered to be the safest modes for the storage of hydrocarbons. The projected expenditure for this particular project is around Rs.2400 crore at September 2005 prices excluding the cost of crude oil for filling the caverns. The ownership and control of the crude oil inventories would be under the agency named as the Indian Strategic Petroleum Reserves Limited (ISPRL), a Special Purpose Vehicle, owned by Oil Industry Development Board (OIDB). It would also coordinate the release and replenishment of Crude Oil Stock during supply disruptions through an Empowered Committee to be constituted by the Government of India.