Petroleum and Natural Gas Minister Hardeep Singh Puri on Thursday said he had an excellent interaction with BP CEO Murray Auchincloss, who is part of the delegation accompanying UK Prime Minister Keir Starmer on his two-day visit to India.
Starmer is leading a delegation of over 100 British business, academic, and cultural leaders on his first official visit to India, following the recent signing of a free trade agreement (FTA) between the two nations.
“An excellent online interaction with CEO of BP, Murray Auchincloss, and BP India head Kartik Dubey. Murray is in Mumbai as part of the business delegation accompanying the British Prime Minister,” Puri said on X.
He added, “BP has a longstanding and comprehensive engagement in India across the energy value chain and is exploring blocks under OALP Round-10.” Indian public sector undertakings have also partnered with BP for rejuvenating the Mumbai High field and are collaborating in retail, natural gas, and compressed biogas, all of which are key components of India’s thrust towards energy security under the leadership of Prime Minister Narendra Modi.
Auchincloss had earlier led BP’s entire board on a visit to India in September last year. According to BP’s latest Energy Outlook, India’s oil demand is expected to rise faster than that of any other country through 2050, driven by its rapidly growing economy. India is projected to account for over 12 per cent of the global energy market by 2050, up from 7 per cent at present.
Highlighting India’s emerging role in renewable energy, Puri said the country’s Hydrogen Age has begun, targeting 5 million metric tonnes of green hydrogen production by 2030, which would constitute a 10 per cent share of the global market. He added that the price of green hydrogen is expected to fall below $3 per kg from the current $3.5 per kg.
“If prices come down, India can adopt green hydrogen on a much larger scale, which will eventually help reduce our import dependence. Under Prime Minister Modi’s leadership, Bharat is building a trusted hydrogen hub—fuelling growth, exports, and a cleaner future,” the minister highlighted.
–IANS