Pankaj Kalra's insights illuminate the ETEnergyworld Oil & Gas Annual Summit 2023
In a significant stride towards advancing India’s energy landscape, Mr. Pankaj Kalra, Chief Executive Officer of Essar Oil and Gas Exploration and Production Limited (EOGEPL), participated in the prestigious ETEnergyworld Oil & Gas Annual Summit. The event, a confluence of industry leaders and experts, was held at the Hyatt Regency in New Delhi, providing a platform to delve into critical discussions surrounding the nation’s rapidly evolving oil and gas sector.
The summit witnessed the presence of eminent personalities, including Shri Anil Kumar Jain, Chairman, PNGRB, Shri Arun Kumar Singh, Chairman and CEO, ONGC and many other major veterans from the Oil and Gas ministry and industry. Sudheer Pal Singh, Editor of ETEnergyworld, The Economic Times, skilfully steered the discussions as the moderator for the event.
The panel, comprising of distinguished industry leaders, brought together a wealth of expertise to discuss the intricate interplay between oil and gas and the energy transition that is shaping India’s energy mix. Notable panellists alongside Mr. Kalra included Pankaj Kumar, Director (Production) from Oil & Natural Gas Corporation; SSV Ramakumar, advisor to CMD, IOCL,; and K.K. Chatiwal, Managing Director of Indraprastha Gas Ltd.
Mr. Kalra, representing EOGEPL, took the opportunity to shed light on the company’s commitment to innovation and sustainability. He emphasised on the crucial role technology plays in the sector. A key highlight of Mr. Kalra’s insights was the projection of Essar’s potential to produce and contribute up to 5% to India’s total gas production. This ambitious goal aligns with Essar’s broader vision of playing a significant role in the national energy output showcasing the company’s commitment to India’s energy security and economic growth and contributing to PMs vision of Atmanirbhar Bharat and making India a gas based economy thus shifting gas in energy mix from 6.7% to 15%.
The panel discussion, led by Sudheer Pal Singh, revolved around critical themes essential for the future of the oil and gas sector in India. Among the key discussion points were understanding the energy trilemma and emerging energy demand shifts, ensuring security of supply in volatile times, and the role of oil and gas companies in climate leadership.
Mr. Kalra contributed valuable insights into emerging trends, particularly focusing on energy transition, utilisation of alternative fuels and how CBM can play a significant role in achieving that. He highlighted how other major countries developed CBM from scratch and similar growth trajectory can be followed by India as well. He stated that the CBM alone has the potential to displace country’s import of natural gas which is currently 50% thus saving dollar bills for the exchequer.
Furthermore, the discussion explored India’s vast potential in the oil and gas sector, drawing attention to the nation’s status as the third-largest energy and oil consumer globally. Mr. Kalra provided context to this by illustrating the current consumption of petroleum products in India, which stood at 223 MMT as of 2022, reflecting a substantial growth of about 12% over the previous year.
The panelists also addressed the crucial role of infrastructure modernisation and the exploration of new energy frontiers in transforming India’s energy trajectory. Mr. Kalra’s insights emphasised Essar’s role in contributing to these transformative changes, not only through technological advancements but also through strategic investments in research and development.
As the summit unfolded, Mr. Kalra took a moment to applaud the efforts of the PSU’s in committing towards sustainability and allocating budget towards creation of green assets. At the end, he also applauded Indian government in fostering a supportive environment for private industry. He acknowledged the government’s role in enabling the growth of the sector by providing a conducive regulatory framework that encourages private sector participation and investment.
In his closing remarks, Mr. Kalra underlined Essar’s commitment to India’s growth story. He expressed gratitude for the government’s support and stressed the need for continued collaboration between the public and private sectors to realise the full potential of India’s oil and gas sector.
Essar’s participation in the ETEnergyworld Oil & Gas Annual Summit 2023 marks not just a corporate presence but a commitment to driving positive change in India’s energy landscape. Through insightful discussions, innovative strategies, and a focus on sustainability, Essar is actively contributing to the nation’s journey towards energy security, economic growth, and a greener future. The company’s dedication to advancing technology, coupled with strategic investments, positions Essar as a key player in shaping the future of India’s oil and gas sector.