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PM Modi launches oil and gas sector projects in Tamil Nadu, calls for investment in energy sector

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Prime Minister Narendra Modi on Wednesday laid the foundation stone for key oil and gas projects in Tamil Nadu via video conference. The Prime Minister began his speech by saying that the projects are important not only for the growth of Tamil Nadu, but also for the whole country.

We are trying to eliminate the cascading effect of different taxes on natural gas in different states. We are committed to bringing natural gas under the GST regime, Prime Minister Modi said, calling on global investors to invest in energy projects in the country.

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Emphasizing the need to work towards clean and green energy sources and reduce energy dependence, PM Modi asked: In 2019-2020, India imported over 85% oil and 53% gas to meet domestic demand. Can a diverse and talented nation like ours be so dependent on its energy?

During his speech, the prime minister said the 143 km Indian Oils pipeline from Ramanathapuram to Thoothukudi would monetize gas from NGO gas fields. This is part of a larger national gas pipeline project being developed at the cost of 4500 crore. It will benefit Ennore, Thiruvallur, Bengaluru, Puducherry, Nagapattinam, Madurai and Thoothukudi.

He added that 95 percent of Tamil Nadus GPL customers have joined the PAHAL program. More than 90 percent of active clients benefit from a direct branch transfer under the Ujjwala Yojana. More than 32 households in Lakh BPL have received new connections. More than 31.6 lakh households have benefited from free top-ups under PM Garib Kalyan Yojana.

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Over the past 6 years, oil and gas projects worth more than 50,000 crore have been approved for implementation in Tamil Nadu. In the same period, projects worth more 9,100 crores sanctioned before 2014 have been completed. In addition, projects worth more 4,300 crores are under development, he added.

Noting that Indian oil and gas companies are present in 27 countries with investments worth around 2.7 lakh crores, Modi said that a pipeline network to reach One Nation, One Grid is being planned. We plan to spend 7.5 lakh crore on building oil and gas infrastructure over five years, Prime Minister Modi said.

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