Page 59 - FIPI - Policy & Economic Report May 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

H.E. Mr. Hervé Delphin, Ambassador of the European Union to India highlighted the importance of
batteries that sit at the core of the green transition. The goal is to translate the innovations from the
development phase to real-world deployment; thereby, directly investing in mineral security and shared
climate goals.

Dr. Parvinder Maini, Scientific Secretary, Office of the PSA mentioned that this joint initiative marks a
critical leap in India’s circular economy and catalyzes momentum for pioneering a digitalized, inclusive
logistics model that integrates the informal sector while ensuring the highest safety standards for second-
life applications.

Mr. Marc Lemaître, Director-General, Directorate-General for Research and Innovation (RTD), European
Commission emphasized on the strengthening bond between the EU and India in the field of green
innovation and co-creating a resilient, cross-continental value chain that will ensure that the strategic
materials of tomorrow remain within our economies.

8. India opens auction for 500,000 tonne green methanol supply contracts

The Solar Energy Corporation of India (SECI) is inviting bids for 500,000 tonne-per-year (tpa) green
methanol supply contracts under the country’s National Green Hydrogen Mission. Awarded on a cost-
based competitive basis, the 10-year contracts will provide successful bidders with incentives under the
Strategic Interventions for Green Hydrogen Transition (SIGHT) program the mission’s primary support
mechanism. The green methanol must be produced at projects evidentially powered by renewable energy
from co-located renewable assets, remote renewable plants, third-party PPAs or power exchanges.

Green methanol, or e-methanol, is produced by combining green hydrogen with captured carbon dioxide.
SECI will act as its intermediary buyer, selling it on to procurers across the Indian market. The tender marks
SIGHT’s first green methanol-focused procurement round, following previous awards covering 724,000
tonnes of green ammonia supply, which came under scrutiny for bidding prices viewed as extremely low.
Primarily used as a low-carbon fuel and industrial feedstock, green methanol is being viewed as a potential
clean fuel in the maritime sector and as a hydrogen carrier for storage and transport. Last month,
renewables firm Jakson Green finalized an 85,000tpa green ammonia purchase agreement, having won
SECI’s supply auction in August 2025. The country has been positioning itself to become a prominent
supplier of green hydrogen derivatives to consumptive markets like Europe.

9. Department of Consumer Affairs Expands Scope of Government Approved Test Centre’s (GATC);
Verification of CNG, LNG and Hydrogen Dispensers Enabled

The Department of Consumer Affairs, Ministry of Consumer Affairs, Food and Public Distribution, has
amended the Legal Metrology (Government Approved Test Centre) Rules, 2013, to further strengthen
India’s legal metrology ecosystem and expand the country’s verification infrastructure for weights and
measures.

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