Assam Gas Company Limited Managing Director Gokul Chandra Swargiary has pinpointed the massive opportunities for entrepreneurs in the gas sector, chiefly concentrating on sustainable energy solutions like Compressed Biogas (CBG).
In a conversation with Business North East (BNE), Swargiary glorified the Northeast's long-standing past and future potential in oil and gas commerce.
"Asia’s first oil drilling took place in Assam's Digboi in the early 1900s, leading to the recognition of Asia’s first oil refinery and for many decades, Assam contributed to half of India's crude oil and gas production," said Swargiary, highlighting the region's contribution in the oil and gas sector since the early 20th century.
He further went on to discuss the transition from an oil-based economy to a gas-based economy, aligning it with opportunities presented at international forums such as COP26 in Glasgow, the Kyoto Protocol, and the Rio de Janeiro Earth Summit. These global contracts highlight the need for sustainable energy bases and collaboration among nations to address climate alteration.
Focusing on entrepreneurial opportunities within the gas sector, Swargiary emphasised the potential of Compressed Bio Gas (CBG) as a valuable alternative fuel. "There is already a policy called Sadat for sustainable energy, which provides subsidies ranging from Rs. 3 crores to Rs. 4 crores for setting up CBG plants," stated Swargiary.
He further noted that CBG can be shaped from various organic waste sources, including municipal waste, animal waste and Napier grass, which has shown great potential for sustainable CBG production, making it a key player in the substitute fuel landscape, according to him.
Moreover, the Indian government has set policies to support the growth of CBG, including a mandate for a two per cent merger of CBG with existing natural gas. This policy shift presents a unique opportunity for entrepreneurs and investors in Assam.
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"The introduction of CBG as a mainstream alternative fuel will be a game-changer for investors in Assam," noted Swargiary, who further explained that the agriculturists in the region stand to profit greatly from the initiative, particularly if there is a system for outsourcing crops like Napier grass.
"I encourage all entrepreneurs, especially those interested in sustainable energy and agriculture, to explore the vast opportunities available in the CBG sector. It’s a sector that promises both economic growth and environmental sustainability," said Swargiary, who added that the government has also fixed competitive prices for buying CBG, which will ensure profitability and growth in the sector.
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