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  • Wednesday, February, 2021| Today's Market | Current Time: 10:36:23
  • Mining can benefit from LNG due to its reduced Fuel Cost & Carbon Emissions

    Published on February 10, 2021

    Mining is an encouraging sector that can benefit with its reduced fuel cost and emissions through the adoption of LNG, mentioned Mr. V.K Mishra, Officiating MD& CEO and Director, Finance, Petronet LNG and Co-Chairman Hydrocarbon Committee PHD Chamber of Commerce and Industry in a webinar organized by PHD Chamber of Commerce and Industry on “Use of LNG in Mining & Transportation”. 

    Mr. V.K Mishra, while giving industry perspective, encouraged the development progress in the LNG sector and lauded the proposal of the setting of LNG stations across major highways and golden quadrilateral in India in a phased manner. He talked about the savings in import bills with LNG adoption as a requirement from an economic aspect and, stated the usage of LNG and natural gases as a solution to pollution and reduction in carbon emissions helping India’s commitment to the UN’s Convention on Climate Change. He discussed the environmental and economic benefits of LNG, he suggested that there is a need to increase its consumption. 

    He emphasized the need to work upon certain aspects like mobile dispensing being approved and non-expiration from the manufacturer’s end for the upliftment of LNG equipment.

    Mr. Praveer Agarwal, Chief General Manager, GAIL while deliberating about the diversity of the Indian market, mentioned that stakeholders are on the verge of transforming India into a gas-based economy. He discussed the potential sectors of LPG in India and LNG’s emission advantages over diesel. He also discussed certain regulations in favor of LNG allowing the setting up of LNG stations and voluntary commitments made by the Govt of India to reduce pollution and gain economic and environmental benefits through LNG. 

    Talking about the mining sector, he mentioned that relatively less no of the stakeholders are required to convert mining equipment into LNG and, it’s a better fuel for mining purposes due to high fuel consumption in mining applications 

    Mr. Pankaj Wadhwa, Senior Vice President – Commercial & Marketing – LNG, Think Gas discussed LNG’s adoption in the mining sector and discussed the regulatory clearances to support new initiatives in LNG adoption. He talked about the availability of LNG in localized areas where fuel options are limited and large cuts in emission along with savings through LNG adoption. 

    Mr. Ashish Agarwal, Director & CEO, SEROS Logistics mentioned the need to increase energy gas consumption and the government’s diligent efforts to increase it. While discussing the benefits of LNG, he mentioned that we see the tremendous potential of LNG as the intracity fuel, especially in the bulk segment. India needs to focus its transmission from fossil fuel to cleaner fuel is for the future. There need for a policy push can help the energy power equipment to come up more quickly. 

    Mr. Bijay Kumar, DGM (AE), Corporate Office- Business Development – Indian Oil Corporation Limited mentioned that India’s future depends on Gas and how we are dealing with it is by importing LNG. He mentioned that the Indian economy is shifting to a gaseous economy and, LNG is going to survive despite electric vehicles and other developments. It is the demand of the economy and its tremendous boost to the entire economy. He shared that Gujarat is doing to be a gas hub in the future and, this is a necessity for India to avail of this necessity. 

    Mr. Abhay Gupta, Head LNG & Mining, Advantek Fuel Systems while discussing the challenges and opportunities in the mining sector mentioned that the mining industry is having huge diesel consumption, it can invest in projects and use dual-fuel technology for conversions that can help in faster ROI and increase profitability. 

    Mr. Pawan Tibrawala, Co-Chairman Hydrocarbon Committee PHD Chamber of Commerce and Industry proposed a formal vote of thanks to all the delegates and participants. 

    The webinar was moderated by Dr. Ranjeet Mehta, Deputy Secretary-General, along with Ms. Bhavna Singh, Joint Secretary, PHD Chamber of Commerce and Industry, and was attended by many industry stalwarts pan- India.