(a) whether the Government has reviewed the situation of energy security of the country especially by the emerging problems of crude oil shortage and its high prices;
(b) if so, the details thereof and the steps taken in this regard;
(c) whether any alternative solution has been worked out in this regard; and
(d) if so, the details thereof?
MINISTER OF PETROLEUM & NATURAL GAS AND PANCHAYATI RAJ (SHRI MANI SHANKAR AIYAR)
(a) to (d) Yes, Sir. In keeping with the Energy Security objectives of the National Common Minimum Programme, Government are exploring several options with West Asian countries including long-term contracts for crude oil, mutual investments in the oil and gas sector, and import of natural gas as Liquefied Natural Gas (LNG) or through trans-national pipelines from gas-rich regions including Iran, Myanmar and, possibly, Turkmenistan. Besides, National Oil Companies such as ONGC Videsh Limited (OVL), IOC, OIL and GAIL have been pursuing the acquisition of equity oil and gas abroad, as well as the acquisition of overseas exploration acreages and producing properties. These companies have Participating Interests(PI) in oil and gas projects located onshore and offshore in Vietnam, Sudan, Russia, Iraq, Iran, Myanmar, Libya, Syria, Australia, the Ivory Coast, Qatar, Egypt, Nigeria and Cuba. Government have also introduced ethanol blended petrol and bio-diesel with a view to conserving petroleum products. Alternative sources of fuel such as hydrogen, solar, and wind energy are also being encouraged.
With a view to ensuring the supply of petroleum products at a time of short-term supply disruptions, Government have approved the building of Strategic Crude Oil Reserves of 5 Million Metric Tonnes (MMT) at Mangalore (1.5 MMT), Vizag (1.0 MMT) and Mangalore or nearby location (2.5 MMT).