Pointing out that gas explorations in KG basin did not yield the desired results and 25 Gigawatt (GW) of gas-based power plants are lying idle in the country, VK Saraswat, member of Niti Aayog during his visit to Gujarat on Saturday said India switching over to a “gas-based economy” was a wrong approach.
Pointing out that investments needed to set up a gas-based economy runs into Rs 3 lakh crore in terms of building LNG terminals and gas pipelines, the former director of DRDO said, “A globally networked system can sometime mislead you, if you don’t look at what is valid for your own country. We are a tropical nation. We have plenty of wind and coal. So why don’t we make our energy transition which has a mix of all this.”
Later, Saraswat told mediapersons, “There was an assumption that gas from KG basin will be affordable. Unfortunately when we went into those projects, we found that those are not affordable. Under the assumption that we will have a huge gas resource in our country, we set up large number of gas-based power plants. What happened to them? Almost 25 Gigawatt (GW) of gas-based power generation capacity is lying idle today. Reason is we have to import gas.”