New Delhi, Oct 1 (IANS) Former Cabinet Secretary Rajiv Gauba on Thursday called for continued regulatory reforms, market-oriented policies and stronger institutional capacity to reinforce India’s energy security and support the country’s vision of Viksit Bharat@2047.
Addressing the 20th Foundation Day of the Petroleum and Natural Gas Regulatory Board (PNGRB), Gauba said India’s petroleum and natural gas sector is operating in an increasingly complex global environment, with geopolitical tensions, supply disruptions and growing energy-security risks making resilient energy systems more important.
Tracing the evolution of India’s energy-sector regulation, Gauba said the country had moved from a system shaped by colonial-era legislation and foreign ownership at the time of Independence to decades of state control and administered pricing. Progressive liberalisation since the late 1990s subsequently ended the four-decade-long nomination monopoly and dismantled the administered pricing mechanism.
Against this backdrop, the establishment of PNGRB in 2006 marked an important institutional development aimed at promoting fair competition, strengthening investor confidence and protecting consumer interests, he said.
Gauba highlighted PNGRB’s role in developing the regulatory framework for natural gas pipelines. He said the adoption of common carrier and contract carrier principles has supported open access to pipeline infrastructure and helped promote competition in the downstream energy market.
He said the impact of regulation is not always immediately visible, but predictable regulatory frameworks are essential for creating well-functioning markets, attracting investment and strengthening public confidence.
With India’s energy requirements expected to expand alongside urbanisation, industrialisation and rising living standards, Gauba stressed the need to diversify and expand domestic energy capacity. He called for faster development of domestic exploration and production, particularly in frontier and deep-water areas, supported by technology, private investment and the capabilities of public-sector enterprises.
Gauba also underlined the need to accelerate India’s transition towards a gas-based economy. He said this would require an integrated and economically viable natural gas value chain, including the strengthening of the National Gas Grid, better utilisation of pipelines and LNG terminals and expansion of the City Gas Distribution network.
He further called for regulatory reforms to reduce unnecessary frictions and ensure that the regulatory framework keeps pace with emerging areas such as hydrogen, syngas and carbon dioxide pipelines.
–IANS
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