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Cabinet Committee on Energy Security proposed
NEW DELHI,
MARCH 10.
The Union Petroleum Minister, Mani Shankar Aiyar, today proposed the setting up of a Cabinet Committee on Energy Security to further the world's fourth largest oil consuming nation's pursuit for tying up energy sources.
Speaking at a Confederation of Indian Industry conference here, Mr. Aiyar said a Cabinet sub-committee was needed to "address energy requirements.''
State-owned Oil and Natural Gas Corp (ONGC) is bidding for foreign oil and gas assets to secure energy supplies and needed fast investment approvals. At present domestic oil production meets only 30 per cent of the demand while the gas output was sufficient for only half of the requirement.
Similarly, the right mix of hydro, thermal and nuclear power generation and using non-conventional energy sources to feed to Asia's third fastest growing economy, needed to be given an impetus.
PTI
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