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  India   Politics  05 Aug 2017  Lok Sabha nod to set up of institute on petroleum

Lok Sabha nod to set up of institute on petroleum

THE ASIAN AGE.
Published : Aug 5, 2017, 2:52 am IST
Updated : Aug 5, 2017, 2:52 am IST

The minister added that the government is committed to provide affordable energy to the people of the country.

Dharmendra Pradhan (Photo: PTI/File)
 Dharmendra Pradhan (Photo: PTI/File)

New Delhi: The Lok Sabha on Friday passed a bill to set up an institute to impart high quality education and conduct advance research in all aspects relating to conventional hydrocarbons.

The advanced institute, named “The Indian Institute of Petroleum and Energy (IIPE)”, is being set up in Visakhapatnam at a cost of Rs 650 crore as part of a package promised by the Centre to Andhra Pradesh after Telangana was carved out of it.

Minister of state for petroleum and natural gas Dharmendra Pradhan, who moved the bill in the Lower House, said the benefit of the institute would not be accrued only to Andhra Pradesh but India and the world as a whole.

“It will have a futuristic impact... Youth will be benefited,” he said. He also informed the Ho-use that India along with China, Japan and the US are doing research on gas hydrates.

For this, the KG basin is expected to be a prolific basin and it may meet the demand of India for 100 years, Mr Pradhan said, adding that Visakh-apatnam is the right place for this institute and it holds an important position in India as Houston in America, the minister said. He added that in the coming days, Visakhapatnam, Kakin-ada and Rajahmundry could become Houston of India.

The minister added that the government is committed to provide affordable energy to the people of the country.

In order to be declared as an institution of national importance, the IIPE would provide high quality education and conduct advance research in all aspects relating to the conventional hydrocarbons, according to the Objects and Reasons of the bill.

It would also actively pursue research and development in the fields such as liquefied natural gas, biofuels and renewables. Mr Pradhan said such a status for the institute would pave the way for quality education and research needed to monetise the oil and gas resources available in the region.

Tags: lok sabha, dharmendra pradhan
Location: India, Delhi, New Delhi