As India looks set to increase its GDP fivefold, to about $10 trillion, by 2040, it is axiomatic that the country’s energy demand will rise in tandem.
India recently took a small first step towards ensuring its energy security by commissioning three underground storage units of the Strategic Petroleum Reserve Project with a combined capacity of 5.33 million metric tonnes of crude.
But these units, located deep under the bowels of the earth at Vishakhapatnam, Mangalore and Pudur have a capacity to store only 13 days of India’s requirements against the International Energy Agency (IEA) recommendation of 90 days. Read More…
