Government Boosts Energy Security with Expanded Strategic Petroleum Reserves and Biofuel Initiatives

India’s Strategic Petroleum Reserves Expansion: A Step Towards Energy Security

The Union government is making significant strides in enhancing the country’s energy security by expanding the strategic petroleum reserves (SPR). This initiative aims to reduce India’s dependence on imported crude oil, a vital move in today’s fluctuating global energy market.
As reported by ANI, the Indian Strategic Petroleum Reserve Limited (ISPRL) has established SPR facilities with a total capacity of 5.33 million metric tonnes (MMT) at Vishakhapatnam (1.33 MMT), Mangaluru (1.5 MMT), and Padur (2.5 MMT). Union Minister of State for Tourism and Petroleum, Suresh Gopi, confirmed in a written reply to the Lok Sabha that the government approved the creation of two additional SPR facilities in July 2021. These new reserves, with a combined storage capacity of 6.5 MMT, will be set up at Chandikhol (4 MMT) in Odisha and Padur (2.5 MMT) in Karnataka through a public-private partnership model.

Diversifying Energy Sources: Natural Gas and Biofuels

To further mitigate reliance on fossil fuels, the government is actively promoting natural gas and biofuels. Gopi highlighted the Ethanol Blended Petrol (EBP) Program, which allows oil marketing companies to blend petrol with ethanol. The aim is to achieve 20% ethanol blending in petrol by 2025, with an increasing shift towards grain-based ethanol derived from maize and surplus rice.
The ethanol industry is projected to save the nation Rs 40,000 crore annually in crude oil imports, while also helping reduce carbon emissions by 10 million tonnes. With expanded cultivation areas for both food and biofuel crops, ethanol production is set to align with India’s economic and environmental objectives.

Ensuring Food Security

Concerns about food security remain, but officials assert that India produces a surplus of food grains. Data from the Department of Agriculture & Farmers Welfare indicates that the country’s cereal production surpasses domestic consumption, with buffer stocks exceeding norms for the past five years.
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By enhancing our strategic petroleum reserves and diversifying energy sources, India is paving the way toward a more sustainable and secure energy future.