India Plans Domestic LNG Shipbuilding as Part of $500 Billion Energy Expansion

India is positioning itself for energy independence with investment opportunities worth $500 billion in its energy infrastructure, Prime Minister Narendra Modi announced on Tuesday during the India Energy Week conference.

“We are moving away from energy security to energy independence,” Modi said, highlighting the South Asian nation’s ambitious energy infrastructure drive. India is focusing on expanding affordable refining and transport options while boosting its capacity in natural gas. “We are aiming to make LNG transportation vessels domestically,” he added, signaling a push toward local liquefied natural gas (LNG) shipbuilding.

The initiative is part of India’s broader goal to become the world leader in refining capacity. Currently, India ranks as the third-largest energy consumer and crude oil importer globally, underscoring the scale of its domestic energy ambitions.

In addition, India seeks to increase oil exploration opportunities to $100 billion, aiming to expand its exploration area to one million square kilometers (386,000 square miles). This expansion is expected to strengthen India’s self-reliance in energy production while creating significant investment opportunities in upstream and midstream energy sectors.

Prime Minister Modi’s announcement reinforces India’s commitment to building a robust domestic energy ecosystem, including LNG shipbuilding, refining, and transport, which are poised to attract global investors and bolster the country’s energy security strategy.