IOCL, HWB forge vital partnership for Natural Gas Supply, Driving Green Energy Growth

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IOCL, HWB forge vital partnership for Natural Gas Supply, Driving Green Energy Growth

IOCL, HWB forge vital partnership for Natural Gas Supply, Driving Green Energy Growth

Industry News
Dec 06,23

Officials projected a substantial increase in the gas share of the energy market, rising from 6.2% to 15% by the year 2030.

IOCL, HWB forge vital partnership for Natural Gas Supply, Driving Green Energy Growth

The Indian Oil Corporation (IOCL) and the Heavy Water Board (HWB) formalised their collaboration by signing a significant Memorandum of Understanding (MoU) for the supply of natural gas.

The signing ceremony, attended by IOCL Executive Directors S. K. Jha and Shailesh Tiwari, as well as Heavy Water Board Director V. V. S. A. Prasad and Chief Executive S. Satyaprakash, marked a milestone achievement.

During the event, senior officials highlighted the strategic importance of the MoU, emphasising its role in meeting both domestic and export requirements. They specifically mentioned the city gas distribution for natural gas supply and the agreement with SPIC Fertilisers for the provision of synthesis gas, a crucial raw material for the local Heavy Water Plant.

The Heavy Water Plant, a constituent unit of the Department of Energy, had been inactive since 2007 due to a lack of synthesis gas supply from SPIC Fertilisers. With the plant now undergoing revitalisation, it is poised to support the Indian Nuclear Power Programme and other initiatives upon its commissioning, scheduled to commence in June 2024.

Employing the ammonia hydrogen mono-thermal exchange process, the Heavy Water Plant is integral to SPIC, contributing to the production of nuclear-grade heavy water. Officials emphasised that the revived plant not only aligns with green fuel practices, reducing pollution, but also plays a role in environmental conservation.

Furthermore, the collaboration positions IOCL as a key player in Tamil Nadu and a leader on the national stage. Officials projected a substantial increase in the gas share of the energy market, rising from 6.2% to 15% by the year 2030.

Source: The Hindu