'Methanol to cut 30% crude oil imports by 2030'
21 Dec 2017 5:58 PM GMT
New Delhi: India is planning to reduce its crude oil imports worth Rs 6 lakh crore every year by 30-40 per cent by 2030 by use of methanol produced from coal and stranded gas, NITI Aayog Member V K Saraswat said on Thursday.
"By 2030, we want to reduce crude oil import bill by 30 to 40 per cent because of (use of) methanol. It is around Rs 6 lakh crore (per annum) today," Saraswat told reporters after a meeting of a task force on methanol here.
Talking about the benefits of the fuel, he said that it appears to be good solution in view of huge reserves of high ash content coal in the country.
He further said, "We are also working converting biomass into methanol. We have decided to sanction 2-3 projects in this area. We also want to use stranded or flared gas to produce methanol. This will reduce our cost."
He informed that the technology to produce methanol from coal is available abroad.
There are couple of plants being set up in India based on foreign technology. But those plants are not suitable for high ash content coal. India has high ash content coal. Therefore India is developing indigenous technology, he added.
He said, "The major effort which has been done today is that all engines to be used in waterways would be methanol based. We are partnering with the international manufacturing agencies."
Besides he said that there will be a major programme of converting 4,500 horse power railway engine to work on methanol because after defence, railways use the maximum (quantity of) diesel.
The task force thinks that it will take around one and half years to develop the railway engine.
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