India Can Cut Dependency on Crude Oil Import With Methanol

New Delhi: NITI Aayog Member V.K. Saraswat on Thursday said that methanol had emerged as a cleaner, cheaper, safer and pollution-free energy option which could be used as transportation as well cooking fuel, thereby reducing India's dependency on crude oil import.

His remarks came after he chaired a combined meeting of the four task forces on methanol comprising of experts, scientists and academicians who took stock of the progress in the efforts to explore and give a push to "methanol economy" in the country.

Addressing a press conference after the meeting, Saraswat, also the Chairman of the Methanol Task Force group, said India had the potential to undertake the production of methanol from high ash coal using indigenous technology with the help of industry.

"Besides, existing facilities can be ramped up to convert the high ash coal, stranded gas, and biomass into methanol," he said, adding that by upscaling the production of methanol, India can reduce its crude oil import bill substantially.

Saraswat emphasized that methanol would supplement various energy solutions being explored by the government to reduce its dependence on crude oil imports.

The four task forces were set up six months ago and since then a series of meetings and deliberations have taken place to explore and give a push to methanol economy in the country, a statement said. (IANS)