“We are probably one of the few companies, one of the few countries who are going to increase refining capacities in the next three to four years by 20%,”.
The statement above was recently made by A.S. Sahney from Indian Oil Corporation at a panel discussion (during the Energy Asia conference).
He then continued…
“That shows our belief in [the] continuance of fuel,” the executive director said, acknowledging that energy transition is here to stay.
“But at the same time, the demand projections for the country are such that we are forced to put up new refineries,”.
According to the IEA, forecasts indicate that India is expected to increase by 3% its energy demand —when it becomes the world’s most populous country by 2025.
How is India preparing for its energy demand growth?
We searched for that answer in TankTerminals.com, and the results are clear.
We found a total of 27 storage facilities that are either under expansion, or construction, or are planned to be built.
3 of which are refineries. 24 are, or will become, tank terminals.
A total of 19,074,205m3 of new capacity will be coming online in upcoming months, and years.
The terminal ranking per cargo type is as follows:
- 10 tank terminals will store petroleum, gasoil and gasoline.
- 7 tank terminals will store LNG and liquified gases.
- 5 tank terminals will store crude oil.
The rest of the products to be stored are jet-kero, fuel oil, biofuel, LPG, and chemicals.
The trend in India is crystal clear, petroleum and gas-related products are still the main cargo around which facilities are being either built, or expanded, or planned.
TankTerminals.com is a market research platform with operational, infrastructural and contact details of more than 12,500 tank terminals and production facilities.