Niti Aayog member Rajiv Gauba has called for market-oriented reforms and stronger regulation of India’s energy sector to boost institutional capacity and the country’s energy security.
Speaking at the 20th foundation day of the Petroleum and Natural Gas Regulatory Board (PNGRB) here, he said the petroleum and natural gas sector operates in an increasingly complex global environment, marked by geopolitical tensions, supply disruptions and heightened energy-security risks.
With energy demand expected to rise substantially alongside urbanisation and industrialisation, Gauba stressed the need to accelerate domestic exploration and production, particularly in frontier and deep-water activity, while leveraging technology, private investment and the capabilities of public sector enterprises.
He also emphasised the importance of accelerating India’s transition towards a gas-based economy. “This would require an integrated, efficient and economically viable natural gas value chain, including strengthening of the National Gas Grid and improving utilisation of pipelines and LNG terminals, and expanding the City Gas Distribution network,” Gauba said.
He also stressed that regulatory reforms should continue to remove unnecessary frictions and ensure that the regulatory framework keeps pace with emerging areas such as hydrogen, syngas and carbon dioxide pipelines.
Speaking on the future role of PNGRB, Gauba said that regulation must evolve alongside technological change and new business models while maintaining the primacy of safety and consumer protection. He identified regulatory predictability, ease of doing business and continued reform as important guiding principles for the board.
Gauba also highlighted PNGRB’s contribution to building the regulatory architecture for natural gas pipelines and noted that its common carrier and contract carrier principles have helped ensure open access to pipeline infrastructure, facilitating greater competition in the downstream market.
He said that such regulatory work, while often not visible, is essential for creating predictable markets, building investor confidence and strengthening public trust.
