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GOI initiated “Hydrocarbon Vision 2030” for North-East

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In a bid to make making hydrocarbons a tool to enable social and economic development, Union Petroleum and Natural Gas minister Dharmendra Pradhan had released the North East Hydrocarbon Vision-2030 in Guwahati.

  • As a part of vision Rs 1, 30,000 crore will infused in the North East region for next 15 years for the production of hydrocarbon.
  • CRISIL Infrastructure Advisory has been designated as the Knowledge Partner to develop for Vision report.

GOI initiated “Hydrocarbon Vision 2030” for North-EastThe division of expenditure is blueprinted as – Rs 80,000 crore in upstream, Rs 20,000 crore in midstream and Rs 30,000 crore in the lowerstream.

  • State covered under Vision – Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura.

Highlights of Hydrocarbon Vision 2030
The Vision aims at doubling Oil & Gas production by 2030, making clean fuels accessible, fast tracking projects, generating employment opportunities and promoting cooperation with neighbouring countries.

5 Pillars of Vision:

  • People – Clean fuel access to households fostering skill development and involvement of the local community.
  • Policy – Moderation in light of specific terrain and weather conditions of the region.
  • Partnership – Greater involvement of state governments in planning and implementation and boosting trade with neighbouring nations.
  • Projects – Pipeline connectivity for carrying liquefied petroleum gas (LPG), natural gas, and petroleum products, oil and lubricants (POL).
  • Production – Production enhancement contracts, technology deployment, fast-track clearance, and development of service provider hubs.

Other focused areas include exploring hydrocarbon linkages and trade opportunities with Bangladesh, Myanmar, Nepal & Bhutan; implementation of “Make in India” in the region