25% of global energy demand growth in the next two decades is going to emanate out of India: Puri
Energy

25% of global energy demand growth in the next two decades is going to emanate out of India: Puri

He emphasised that despite the current challenging energy environment, India’s commitment to energy transitions and its climate mitigation goals, is not going to diminish

  • By ICN Bureau | October 13, 2022

25% of global energy demand growth in the next two decades is going to emanate out of India, says Union Minister of Petroleum & Natural Gas and Housing and Urban Affairs, Hardeep S. Puri addressing a roundtable on “Opportunities in the India-US Strategic Partnership” at Houston, Texas.

He said, "India’s energy strategy is mindful of commitments to the global commons, to green transition and to ensure energy availability, affordability, and security to all. India has taken many steps towards low carbon development, including through emerging fuels like hydrogen and bio-fuels."

He emphasised that despite the current challenging energy environment, India’s commitment to energy transitions and its climate mitigation goals, is not going to diminish.

The roundtable brought together over 60 participants from 35 companies, including Senior leadership of energy majors like Exxonmobil, Chevron, Chieniere, Lanzatech, Honeywell, BakerHughes, Emerson, Tellurian to name a few. Indian Energy PSUs also attended the event.

Union Minister for Petroleum and Natural Gas stated that India was undertaking major reforms to rationalize and incentivise exploration & production by reducing the no-go areas by 99% opening up approximately one million square km making good quality geological data available through the National Depository Registry etc.

As a gesture of commitment of Government of India to E&P sector, the special Coal-bed Methane (CBM) round & offshore bid rounds in the oil and gas capital of the world (Houston) offering over 2.3 square lakh km, after opening up over one million square Km of No Go areas recently, was launched by the Minister.

Hardeep Puri stated that the immense potential between the two countries in areas of biofuels, gas based economy, green hydrogen, petrochemicals, and upstream sectors is evident and is being furthered by collaboration by our private sector companies.

He further stated, “Due to reform measures by the Modi Government there is unprecedented interest in Indian E&P by global oil companies.”

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