Energy security must to emerge superpower : Mansingh

By ENN, Gandhinagar, Mar 6 : Petroleum and Natural Gas Regulatory Board Chairman L Mansingh has emphasised that India should ensure its energy security for becoming an economic superpower.

''If we want to realise the dream of India becoming an economic superpower, the government, the regulators and the people should collectively ensure energy security and efficiency'', Mr Mansingh said at the valedictory function of the two-day international conference on management of petroleum sector yesterday.

The conference was organised by city-based Pandit Deendayal Petroleum University's School of Petroleum Management. Its director Dr Bhavesh Patel said the next such conference would be organised in 2011-12.

Noted economist Dr Y K Alagh said India has recorded exceptional economy growth in last two and a half decade. Its growth rate has increased significantly despite the fact that growth rate in power generation capacity addition has decreased in the last decade. But in future, energy and agriculture sector may become a constraint when it comes to sustaining higher economic growth.

The conference mainly focused on the changing scenario of the petroleum sector and the management response to deal with this.

Some projections made during the conference indicated that petroleum and natural gas infrastructure segment was expected to attract an investment of around Rs 76,000 crore to Rs 84,000 crore in next five years.

Total number of geographical areas covered under the gas grid network in the country stands at 25 and is expected to rise to 86 in the next three years. Similarly, the number of vehicles using CNG as fuel is expected to rise to 33 lakh in the next five years from 7 lakh at present.