Ultra Gas and Energy Limited’s MD Maqsood Sheikh discusses navigating India’s energy crisis due to West Asia tensions. He reveals a Rs. 900 crore plan for 100 multi-fuel LNG stations by 2027 to bolster the country’s energy security.
India’s energy sector is facing unprecedented challenges due to the tensions in West Asia. Maqsood Sheikh, Managing Director of Ultra Gas and Energy Limited, sheds light on the company’s strategy to navigate these uncertain times.
“The whole world is shuffling in this problem, which is created by the West Asia War,” Sheikh says, emphasizing the global impact of the conflict.
Ultra Gas’s Expansion and Future-Proofing Strategy
Sheikh said the company is expanding its LNG infrastructure, with plans to establish 100 stations across the country by 2027, investing Rs. 900 crores.
Sheikh highlights the versatility of these stations, designed to accommodate multiple fuels, including hydrogen and electric.
“The first bay is on LNG, similarly, we can do the second bay on hydrogen, and the third bay, which we can put maximum 3 bays, we can do it on electric,” he says.
Navigating Supply Disruptions
India’s LNG imports, primarily sourced from government companies, have been affected, with suppliers reducing their commitments by 20%. However, Sheikh notes that the situation is manageable and thanked government’s efforts to ensure energy security.
“I would appreciate the government of India for doing excellent work in managing the energy crisis for the country,” he said.
Ultra Gas and Energy Limited, a key player in the B2B LNG market, has not felt the direct impact of the crisis, with supplies continuing albeit with some limitations said Sheikh and attributed this to the company’s long-term contracts with suppliers and the government’s proactive measures
A Call for Peace and Stability
As India navigates the complexities of energy security, Sheikh emphasised the need for a collective effort.
“Anything that goes beyond limit, which is called as force majeure in legal words, it will impact us, for sure,” he warns, stressing the importance of a peaceful resolution to the conflict.
“The only pray that we have and request is that the war should stop.”
“We are hearing good news that there has been truce, and for some days, they will be discussing the ceasefire. And if that happens, it’s better to get back to life rather than tussling into everyday issues”.
Detailed Rollout Plan
With seven operating stations and 12 more in the pipeline, Ultra Gas and Energy Limited is poised to serve 6,000 trucks, contributing to India’s energy security, Sheikh noted.
“We have currently seven operating stations. We are working on five more, where we are developing it by June. It should be ready. We are working on some seven lands where we are doing the due diligence. And eventually, the plan is by end of March 2026, I should close with 25 stations, March 27. We should close at around 25 stations. And given another two years, we should close this at 100,” said Sheikh. (ANI)
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