Niti Aayog member Rajiv Gauba
New Delhi: Niti Aayog member Rajiv Gauba on Thursday highlighted the critical role of regulation, market-oriented reforms and institutional capacity in strengthening India's energy security and supporting the country's journey towards Viksit Bharat.
"Such regulatory work, while often not visible, is essential for creating predictable markets, building investor confidence and strengthening public trust," he said in his address at the 20th foundation day of the Petroleum and Natural Gas Regulatory Board (PNGRB).
Gauba noted PNGRB's contribution to building the regulatory architecture for natural gas pipelines, saying its common carrier and contract carrier principles had helped ensure open access to pipeline infrastructure and facilitated greater competition in the downstream market.
He said regulatory reforms should continue to remove unnecessary frictions and ensure the framework keeps pace with emerging areas such as hydrogen, syngas and carbon dioxide pipelines.
Gauba also stressed the need to accelerate domestic exploration and production, particularly in frontier and deep-water activity, while leveraging technology, private investment and the capabilities of public-sector enterprises. He highlighted the importance of accelerating India's transition towards a gas-based economy. "This would require an integrated, efficient and economically viable natural gas value chain, including strengthening of the National Gas Grid and improving utilisation of pipelines and LNG terminals, and expanding the city gas distribution network," he said.
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"Such regulatory work, while often not visible, is essential for creating predictable markets, building investor confidence and strengthening public trust," he said in his address at the 20th foundation day of the Petroleum and Natural Gas Regulatory Board (PNGRB).
Gauba noted PNGRB's contribution to building the regulatory architecture for natural gas pipelines, saying its common carrier and contract carrier principles had helped ensure open access to pipeline infrastructure and facilitated greater competition in the downstream market.
He said regulatory reforms should continue to remove unnecessary frictions and ensure the framework keeps pace with emerging areas such as hydrogen, syngas and carbon dioxide pipelines.
Gauba also stressed the need to accelerate domestic exploration and production, particularly in frontier and deep-water activity, while leveraging technology, private investment and the capabilities of public-sector enterprises. He highlighted the importance of accelerating India's transition towards a gas-based economy. "This would require an integrated, efficient and economically viable natural gas value chain, including strengthening of the National Gas Grid and improving utilisation of pipelines and LNG terminals, and expanding the city gas distribution network," he said.
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