Commodities
HPCL Diversifies LNG Supply Beyond Middle East
HPCL is planning to diversify its liquefied natural gas (LNG) supply beyond the Middle East, as per ED Natural Gas Anuj Mehrotra. The company aims to invest Rs 5,000 crore in natural gas over the next three to five years.
HPCL's focus will be on expanding compressed natural gas (CNG), liquefied petroleum gas (LPG), and city gas distribution (CGD) infrastructure across India.
The company's plans are aimed at reducing its dependence on Middle Eastern LNG suppliers, Mehrotra stated. This move is expected to benefit the Indian economy by reducing import costs and increasing energy security.