- 10,000 CNG stations would be set up in the next 10 years.
- Government is planning to invest about INR 100 billion in LNG stations.
As the event industry takes affirmative steps towards resuming B2B physical platforms, Messe Frankfurt India Trade Fairs Pvt Ltd hosted Natural Gas Vehicle (NGV) India Summit from 4 – 5 March at Le Meridien, New Delhi. Focussing on the enormous potential, speakers and delegates indulged in serious networking sessions leading to positive solutions for the development of natural gas vehicle industry in India.
Amid soaring petrol and diesel prices concerning the citizens of India, the fifth edition of Natural Gas Vehicle (NGV) India Summit was indeed scheduled at the perfect time. Witnessing 125 industry experts and professionals in attendance, the significant platform highlighted the importance of natural gas in the auto industry and the way forward in terms of challenges faced, opportunities, and overall acceptance of clean fuel.
The conference was inaugurated by the most influential members from the industry that included, Mr. AK Jana, MD, Indraprastha Gas Ltd, Mr. Amit Shah, MD, Ace Gas Conversions Pvt Ltd, Mr. SC Gupta, Joint Advisor, Petroleum and Natural Gas Regulatory Board, Mr. Ashish Chutani, Chairman, SIAM Gas Based Mobility Group and Head – Government & Policy Affairs, Maruti Suzuki India Ltd, Mr. Ashim Sharma, Partner & Group Head, Nomura Research, Institute (NRI) Consulting & Solutions India Pvt Ltd. Addressing the attendees at the inauguration Mr. AK Jana, Managing Director, Indraprastha Gas Ltd stated: “Now is the time for natural gas vehicles.” Congratulating Messe Frankfurt India, he further added: “It was a fantastic opportunity to participate at NGV India Summit. It was a big relief to come out and have face-to-face discussions with my peers and other energy experts. The event was held focussing on relevant topics with some very good sessions from the members of the government and the industry.”
The members at the inauguration also unveiled a special report on the NGV sector by Nomura Research Institute (NRI) Consulting & Solutions India Pvt Ltd. Talking about the current dynamic of the industry, Mr. Ashim Sharma, Partner & Group Head, Nomura Research Institute (NRI) Page 2 Consulting & Solutions India Pvt Ltd shared: “There is the high rate of penetration of NGVs in the country as it has grown at about 7% from March 2016 to March 2020. Improvement of fuel infrastructure in the country has also witnessed a surge at about 20% CAGR during the same period. The city gas distribution is the prime consumer of natural gas with more than half being consumed by the transport sector. As per the honourable minister, another 10,000 CNG stations would be set up in the next 10 years. The government is also planning to invest about INR 100 billion in LNG stations with the construction of the first 50 LNG stations recently launched.”