India’s Oil Giant GAIL Sets A 2040 Deadline For Achieving Net Carbon Emissions

GAIL (India) Ltd. in India has set a goal of having net zero carbon emissions from operations by 2040, according to Chairman Manoj Jain, who spoke Friday at the annual shareholders meeting of the gas distributor.

One of the world’s largest emitters of greenhouse gases, India, wants to increase the share of gas in its energy mix from its current 6.2per cent  to 15per cent  by 2030 in order to achieve net zero emissions by 2070.

Oil and gas companies around the world have established a range of targets to cut Scope 3 emissions, which are created when customers use their products, as well as Scope 1 and 2 emissions, which are linked to a company’s own operations.

“In line with India’s vision to achieve Net Zero by 2070, GAIL has completed a comprehensive study on science-based Net-Zero ambition and intends to achieve 100per cent  reduction in Scope 1 and Scope 2 emissions and a 35per cent  reduction in Scope 3 emissions by 2040,” Jain said.

The largest refining complex in the world is operated by the Indian conglomerate Reliance Industries, which has set a goal of reaching net zero by 2035. State-owned Bharat Petroleum and Hindustan Petroleum have set a target of 2040.

By 2046, India Oil Corp, the top refiner in the nation, wants to have net-zero Scope 1 and 2 emissions.

GAIL is attempting to produce green hydrogen and plans to install 3 gigawatts of renewable energy capacity by 2030 in an effort to reduce its carbon footprint.

Additionally, it has begun offering hydrogen-blend gas in central India.

In order to liquefy natural gas for simple transportation and sale in regions not connected to the pipeline grid, GAIL is erecting portable units on two different sites.

According to Jain, the company intends to produce the portable units in India.

(Adapted from Reuters.com)

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