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News: The Union Minister has said that India is investing over USD 60 billion in developing a Natural gas supply and distribution infrastructure.
Facts:
- Natural gas: It is a naturally occurring hydrocarbon gas mixture consisting primarily of methane.It is formed when layers of decomposing plant and animal matter are exposed to intense heat and pressure under the surface of the Earth over millions of years.
- Contribution: Natural gas currently constitutes 6.2% of all energy consumption in the country.The target is to double the share of natural gas in its energy base to 15% by 2030.
- Key Challenges Confronting the energy sector:
- Energy Trilemma: It is about providing — sustainably, securely, and affordably-sufficient energy to our growing population.
- Uncertainty and Challenges in Global Energy Markets such as US sanctions on Iran and Venezuela, attacks on Saudi oil processing units, volatile conditions in Strait of Hormuz, unrest in the Middle-East and US-China trade war.
