Gasoline sales to double whilst India aims for electric vehicle future
Despite India’s efforts to drive electric vehicle (EV) usage in the coming 12 years, the nation is still heading towards an oil and gas prominent future.
The country announced plans to only sell EVs by 2030, however, it is also set to have its consumption of gasoline and diesel double in the same period of time, claims the Petroleum Planning and Analysis Cell of India’s Oil Ministry.
Wood Mackensive released a similar prediction, only arguing that diesel ha the potential to grow by only a third, reaching 113mn tonnes.
According to Bloomberg, these forecasts can work together coherently, due to the likelihood of EVs remaining expensive in India.
“The government is only aiming for 100 percent electric vehicles sales by 2030,” stated Suresh Sivanandam, the Head of Asia Refining Research at Wood Mackenzie Ltd., Bloomberg reported.
“We should still see gasoline demand growing until 2030 but the pace of the growth slows down beyond 2030.”
There has been no official action in regards to policy towards the EV target the nation has set.
“The government is yet to release a policy paper on electric vehicles,” Sivanandam added.
“That would set the tone for how serious the government is about this ambition.”
Trafigura and Yara International explore clean ammonia usage
Reducing shipping emissions is a vital component of the fight against global climate change, yet Greenhouse Gas emissions from the global maritime sector are increasing - and at odds with the IMO's strategy to cut absolute emissions by at least 50% by 2050.
How more than 70,000 ships can decrease their reliance on carbon-based sources is one of transport's most pressing decarbonisation challenges.
Yara and Trafigura intend to collaborate on initiatives that will establish themselves in the clean ammonia value chain. Under the MoU announced today, Trafigura and Yara intend to work together in the following areas:
- The supply of clean ammonia by Yara to Trafigura Group companies
- Exploration of joint R&D initiatives for clean ammonia application as a marine fuel
- Development of new clean ammonia assets including marine fuel infrastructure and market opportunities
Magnus Krogh Ankarstrand, President of Yara Clean Ammonia, said the agreement is a good example of cross-industry collaboration to develop and promote zero-emission fuel in the form of clean ammonia for the shipping industry. "Building clean ammonia value chains is critical to facilitate the transition to zero emission fuels by enabling the hydrogen economy – not least within trade and distribution where both Yara and Trafigura have leading capabilities. Demand and supply of clean ammonia need to be developed in tandem," he said.
There is a growing consensus that hydrogen-based fuels will ultimately be the shipping fuels of the future, but clear and comprehensive regulation is essential, according to Jose Maria Larocca, Executive Director and Co-Head of Oil Trading for Trafigura.
Ammonia has a number of properties that require "further investigation," according to Wartsila. "It ignites and burns poorly compared to other fuels and is toxic and corrosive, making safe handling and storage important. Burning ammonia could also lead to higher NOx emissions unless controlled either by aftertreatment or by optimising the combustion process," it notes.
Trafigura has co-sponsored the R&D of MAN Energy Solutions’ ammonia-fuelled engine for maritime vessels, has performed in-depth studies of transport fuels with reduced greenhouse gas emissions, and has published a white paper on the need for a global carbon levy for shipping fuels to be introduced by International Maritime Organization.
Oslo-based Yara produces roughly 8.5 million tonnes of ammonia annually and employs a fleet of 11 ammonia carriers, including 5 fully owned ships, and owns 18 marine ammonia terminals with 580 kt of storage capacity – enabling it to produce and deliver ammonia across the globe.
It recently established a new clean ammonia unit to capture growth opportunities in emission-free fuel for shipping and power, carbon-free fertilizer and ammonia for industrial applications.