State-run Hindustan Petroleum Corporation Ltd (HPCL) will invest ?10,000 crore to create an end-to-end natural gas value chain, said an official from the company. The investment will be spread over the next five years, he added.
"We are trying to create a value chain from end to end, right from liquefied natural gas (LNG) buying to LNG conversion to gas as well as LNG transportation. We have got a plan of around ?10,000 crore of investment in various LNG-related facilities, through a combination of joint ventures or private participation," Mukesh Kumar Surana, chairman and managing director, HPCL, told analysts.
Currently, HPCL is setting up 11 LNG stations and is in talks with auto manufacturers to encourage them to build facilities for LNG-based trucks and buses. The company has also approved a project for around ?100 crore to have a corridor, which can be used along with other oil marketing companies to use LNG as a fuel, in addition to CNG.
HPCL said it is also working on a parallel mode of LNG and HCNG (hydrogen compressed natural gas). The company holds a stake in the infrastructure for LNG gasification terminal for cross-country pipelines for transportation of LNG.
"Now whether its biofuel, whether it's renewable, gas or whether it's electric, we are working on all the floors, because ultimately, our business is to provide mobility and to cater to the energy needs of the customers." added Surana.
