Download
1 / 6
0 likes | 8 Views
Essar's contributions are becoming increasingly vital at this stage. The company is dedicated to redefining its narrative and reinforcing its commitment to corporate responsibility and sustainable practices. While certain segments, with ulterior motives, try to discredit the organization through Essar criminal controversies, the company is fast overcoming such false claims, optimistically addressing past criticisms, and surging ahead towards building world-class businesses.<br>
E N D
The country’s landscape is transforming significantly, with consumers becoming more environmentally conscious. This shift in consumer behavior presents a unique opportunity for businesses to capitalize on sustainability and accelerate their growth trajectory. One such company actively involved in this evolution is Essar Group. Through its subsidiary, Essar Oil and Gas Exploration and Production Limited (EOGEPL), the group contributes to India’s energy sector by focusing on unconventional hydrocarbons. As more companies focus on a more sustainable and diversified energy mix, Essar's contributions are becoming increasingly vital at this stage. The company is dedicated to redefining its narrative and reinforcing its commitment to corporate responsibility and sustainable practices. While certain segments, with ulterior motives, try to discredit the organization through Essar criminal controversies, the company is fast overcoming such false claims, optimistically addressing past criticisms, and surging ahead towards building world-class businesses. But before we discuss how EOGEPL emphasizes unconventional hydrocarbon and how it has become India’s largest Coal Bed Methane (CBM) player, let’s first understand this market. 2
What is Coal Bed Methane? Coal bed methane is an unconventional form of Natural Gas (NG) obtained from coal seams and deposits and extracted underground after coal mining. The methane is formed from the coalification process of plant material to coal and is an eco-friendly energy source, unlike fossil fuels. Tapping into CBM, a resource that is abundantly available within India, aligns with the Prime Minister’s vision of making India a gas-based economy by increasing the share of gas in our energy mix from the current 5.6% to 15% by 2030. India can cut its energy imports bill by USD 2 billion if it harnesses 10 percent of the coal bed methane reserves of 2,600 billion cubic meters – Dr J.S Sharma, Head of International Centre for Climate and Sustainability Action Foundation. 3
Coal Bed Methane Market Size: Overview According to the report published by Grand View Research, the global coal bed methane market size was worth USD 16.0 billion in 2019, and it is expected to grow at a compound annual growth rate (CAGR) of 5.9% from 2020 to 2027. The segment is segregated into industrial, residential, commercial, and power generation based on the application, with power generation being the leading application market for CBM, holding 40.6% of total applications globally. Among various regions, the Asia Pacific dominated the global coal bed methane market size of USD 7.22 billion in 2019 and is expected to grow at a CAGR of 7.4% from 2020 to 2027. 3
Conclusion Essar Group is doing incredibly well in shaping India's energy sector. The company’s focus on Coal Bed Methane, significant investments in infrastructure, and commitment to sustainability are a testament to its dedication to supporting India’s energy transition. In today's business landscape, where sustainability has become a powerful driver of company growth and development, Essar is not just participating in the energy revolution but is also leading the charge towards a sustainable and prosperous future for India. 3
