Budget 2021-22 wishlist: Here are the key challenges in oil & gas sector

Low gas price cycles are posing challenges to new upstream gas projects in deep-water fields

Key challenges
 
Slow transition to low carbon fuels: For India to continue as a leader in fighting climate change, there is a need to focus on hydrogen economy and deploy carbon negative technologies like carbon capture utilisation and storage (CCUS)
 
Challenges to gas-based economy: To achieve the target of increasing gas share to 15 per cent of energy mix, there is a need to democratise gas sale and purchase, create signif­icant LNG import units, enable free access to infrastr­ucture and make gas swap practical
 
Crude oil and natural gas production decline: The production is on a steady