In an unstable world, energy sovereignty is the new oil , Pg6

Key Highlights:

• India imports over 85% of its crude oil and more than 50% of its natural gas, posing a significant risk to national security.
• Russia has become India's largest oil supplier since 2022, accounting for 35%-40% of total crude imports in 2024-25.
• In FY2023-24, crude oil and natural gas imports cost India $170 billion, over 25% of the total import bill of $677 billion.
• A potential conflict between Israel and Iran in June 2025 threatened global oil flows, highlighting energy lifeline fragility.
• Energy sovereignty is crucial, focusing on domestic capacity, diversified technology, and resilient systems.

Detailed Insights:

• India's reliance on imported fossil fuels impacts its economy by pressuring the rupee and inflating the trade deficit.
• Global energy security has been reshaped by events like the 1973 oil embargo, the 2011 Fukushima disaster, the 2021 Texas Freeze, the 2022 Russia-Ukraine war, and the 2025 Iberian Peninsula Blackout.
• Despite the energy transition, fossil fuels still meet over 80% of global primary energy demand, with solar and wind under 10%.
• India's energy sovereignty doctrine includes leveraging 150 billion tonnes of coal reserves through gasification and carbon capture.
• The ethanol blending programme has reduced crude imports and transferred over ₹92,000 crore to farmers, promoting rural empowerment.
• Expanding nuclear energy beyond the current 8.8 GW, along with localizing Small Modular Reactor technologies, is vital for a zero-carbon baseload.
• Achieving the green hydrogen target of five million metric tonnes a year by 2030 requires localized manufacturing and storage systems.
• Pumped hydro storage is essential for grid balancing, complementing renewable energy and providing necessary inertia.

Key Concepts Involved:

• Energy Sovereignty: A nation's ability to secure, store, and sustain its energy supply without dependence on external sources.
• Coal Gasification: Converting coal into gas for producing syngas, methanol, hydrogen, and fertilizers.
• Green Hydrogen: Hydrogen produced by splitting water into hydrogen and oxygen using renewable electricity.