Hindustan Petroleum to Increase Focus on Unconventional Gasses

Hindustan Petroleum Corporation Limited (HPCL) has drawn up a strategy to make foray into development and acquisition of E&P (exploration and production) assets and increase focus on developing gas business.

Business Line in a report has said that the company plans to bet on unconventional energy forms like coal bed methane, shale gas, solar and wind energy, and building E&P business.

On the natural gas business front, the document states, HPCL aims to build a successful gas business. The target is to source and market 5 million metric tonnes of natural gas per annum by 2017 while seeking to acquire 10 city gas distribution networks, constructing Kakinada-Visakhapatnam pipeline and building 5 million metric tonnes per annum of re-gasification and transport capacity.