After heightened worries about pollution, the demand for diesel as a source of fuel is reducing significantly across the world. A few days ago, Volkswagen had announced that it would be stopping the sale of its Porsche cars which run on diesel.
Now, Indian Oil Corporation (IOC), which is the leading oil refinery in India has reiterated that it, too, wants to focus on bringing about a reduction in the demand for diesel in the country. And the way to go about this for the IOC is by seeking to increase the supply and usage of natural gas.
An article published in the Reuters quoted the IOC's director of refineries, B.V. Ramagopal as, "Rising use of gas to begin denting diesel demand in five to seven years." The IOC also wants to increase its supply base among the Indian consumers to add to their business.
As of now, with a view to expanding its current operations with regard to supplying natural gas, the IOC is in the process of constructing a liquefied natural gas (LNG) terminal for the purposes of regasification in the Kamarajar port in the country's eastern coast, in the city of Chennai. The capacity of the terminal will be 5 MTPA (Metric Tonnes Per Annum).