India Energy Week 2023 (IEW) gives opportunities to global leaders and companies to deliberate upon the pressing issues of energy transition in the world, said the Union Minister for Petroleum Hardeep Singh Puri at IEW which concluded on Wednesday on Thursday.
The three-day event has showcased India’s journey across the energy spectrum through immersive digital exhibition and Ministerial dialogues taking whole-of-Government approach.
Speaking at the closing session, the Minister Congratulated the participants for making it a resounding successful event.
He said that being the first major event under India’s G20 Presidency, it provided a dynamic unique opportunity for India to bring together all the international stakeholders, domestic as well as international, on a common platform to facilitate Growth, Collaboration and Transition to make a sustainable, be a part of transformative and prosperous future for all.
The Minister said that India utilized the IEW opportunity to showcase various initiatives taken by the Government of India in the energy domain to ensure energy security of its 1.4 Billion citizens while also conforming Prime Minister Narendra Modi’s pledge at COP26 to cut India’s emissions to achieve Net-Zero by 2070.
He said India launched Global International Biofuel alliance to help create and develop a favorable ecosystem for promoting the development and deployment of biofuels with key stakeholders including US, Brazil, EU, IEA, Bio Future Platform, SIAM, ISMA, as a clean mobility alternative under India’s G20 Presidency have advanced”.
The Minister highlighted the 7th Roundtable CEOs and Experts from Oil & Gas sector, with the participation of more than 30 CEOs & Experts to discuss and synergize our approaches, and understand each-other’s perspective to align the visions and plans of participants.
Highlighting the other initiatives taken during the event the Minister said, Prime Minister Narendra Modi has launched three green initiatives, which will help not only to decarbonise the economy but also able to achieve net zero emission by 2070.
Mr Puri said that Mr Modi has already made a call to make India a developed nation by 2024, for which he has introduced polices that transformed India’s position radically at global level.
Touching upon the issue of Ethanol blending in Petrol, the Minister said India has now reached 10 percent biofuel ethanol blending and the target of 20 percent blending which was set for 2030 has been brought forward to 2025.
“India launched Global International Biofuel alliance to help create develop an favorable ecosystem for promoting the development and deployment of biofuels with key stakeholders including US, Brazil, EU, IEA, Bio Future Platform, SIAM, ISMA as a clean mobility alternative under India’s G20 Presidency have advanced, he said.
Calling the Union Budget as a Green Budget, Mr Puri said the government allocated over 19000 crore rupees for PLI scheme for the manufacture of electrolyzers.
He also talked about various agreements and Memorandums of Understanding signed on the side-lines of India Energy Week leading to further strengthening of collaborations and partnerships in energy sector. Some of the major MoUs/agreements signed during the IEW are:
During the event MoU between Directorate General of Hydrocarbon, Ministry of Petroleum & Natural Gas (MoPNG) and University of Houston, Texas, USA signed as a step forward in strengthening a strategic partnership between India and the United States for establishing a data center with University of Houston.
A Statement of Intent (SoI) between Petroleum Planning and Analysis cell (PPAC) and International Energy Agency (IEA) was also agreed to strengthen cooperation in the field of data and research in the energy sector to enhance global energy security
Alongside the India Energy Week, India also hosted the 9th Asian Ministerial Energy Roundtable in collaboration with International Energy Forum (IEF) with the objective of “Mapping Stable & Secure Energy pathways for achieving Energy security, Energy Justice, Growth and Innovation” and India- US Executive roundtable with US-Indian Business council and US-India Strategic partnership Forum, the Minister mentioned.
