New Delhi, Oct 9 Petroleum and Natural Gas Minister Hardeep Singh Puri said on Thursday that he had an excellent interaction with BP CEO Murray Auchincloss, who is part of the delegation accompanying UK Prime Minister Keir Starmer on his two-day India visit.
Starmer is leading a delegation of more than 100 British business, academic and cultural leaders on his first official visit to India, as the two nations recently signed a free trade agreement (FTA).
“An excellent online interaction with CEO of BP, Murray Auchincloss and BP India head Kartik Dubey. Murray is in Mumbai as a part of the business delegation accompanying the British Prime Minister,” said Puri.
“BP has a longstanding and comprehensive engagement in India across the energy value chain, and is exploring blocks under OALP Round-10,” the minister posted on X.
Indian PSUs have also partnered BP for rejuvenating the Mumbai High field and are collaborating in retail, natural gas and compressed biogas which are all strong components of India’s thrust towards energy security under the leadership of PM Narendra Modi, the minister added.
Auchincloss led the company's entire board on a visit to India in September last year. BP's latest 'Energy Outlook’ sees India's oil demand rising more than those of any other country through 2050 on the back of its fast growing economy.
Notably, India is projected to account for over 12 per cent of the global energy market by 2050, up from 7 per cent.
Meanwhile, according to Puri, India’s Hydrogen Age has begun, with the country targeting 5 million metric tonnes of green hydrogen production by 2030, which will constitute a 10 per cent share of the global market.
He said that the price of green hydrogen is expected to fall below $3 per kg from $3.5 a kg at present.
If prices come down, India can adopt green hydrogen on a much larger scale, which will eventually help reduce our import dependence. Under Prime Minister Narendra Modi’s leadership, Bharat is building a trusted hydrogen hub -- fuelling growth, exports, and a cleaner future, the minister highlighted.
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