OREANDA-NEWS  India wants to increase the volume of oil refining almost twice, from the current 250 million tons per year to 450 million tons by 2030, Prime Minister Narendra Modi said at the opening of the energy forum in Bangalore, Bloomberg quoted him as saying. India is expected to more than double its share in global oil demand by 2030, to 11 percent.

Currently, almost 75 percent of the country's generation comes from coal-fired power plants, but by 2030, according to Modi, the share of gas will be increased from the current 6 to 15 percent. For this purpose, among other things, capacities for the import of liquefied natural gas (LNG) will be increased. Also, by the end of the decade, the authorities will seek to increase the share of non-fossil fuels in the energy balance to 50 percent, and investments in the production of green hydrogen may amount to more than $ 12 billion.

The expansion of the oil and gas sector is planned, despite India's desire to achieve zero emissions by 2070, the agency notes. While Modi declares the country's firm commitment to a green economy, India is criticized for being too slow and indecisive in the fight against climate change, and the cost of the authorities' plan to achieve carbon neutrality is estimated at a record $ 10 trillion.