Natural gas is the most preferred option for power generation as well as production of nitrogenous fertilizers, according to K. Satyanarayana, Oil Industry Development Board Chair Professor, Anna University.
He was delivering the keynote address at the three-day ‘Petro Fest' conducted at the Delta Studies Institute (DSI), Andhra University. He said opening up of economy led to enormous demand on energy and there was a mismatch between demand and supply.
The mismatch was so large that India could ill-afford to choose one option in preference to other. Hence expansion of manifold coal production, extraction of oil and natural gas resources through all possible means, import of coal, acquisition of oil and gas reserves abroad and continuing substantial dependence on import of oil should continue.
A seminar on ‘Recent advances in hydrocarbon science, technology and industry prospects' is being conducted as part of the programme.
AU Vice-Chancellor B. Satyanarayana inaugurated the programme.
About 200 students are taking part in Petro Fest from various universities in the country.
About 30 experts from the industry and academia are participating.
The Vice-Chancellor in his address spoke about the importance of petroleum industry for the country's economy.
Earlier, he released a book written by Prof. D. Satyanarayana of DSI. Petro Fest convener Prof. M. Jagannadha Rao, Principal of College of Science and Technology Prof. V. Veeraiah spoke.