India to see $100 bn energy investment by 2024, says Pradhan

India will see a massive $100 billion investment in creating oil and gas infrastructure over the next five years as the world’s third-largest energy consumer steps up spending to meet rising demand. Speaking at KPMG’s Enrich 2019 conference, he said India will chart its own course of energy transition in a responsible manner even as it is said to be a key driver of global energy demand in the coming decades.

“India will see an investment of USD 100 billion by 2024 in oil refining, pipelines, city gas distribution networks, and LNG terminals,” he said.

Of this, $60 billion will flow into the creation of gas infrastructures such as pipelines, city gas networks, and import terminals, he said.