Union Minister of Petroleum and Natural Gas Dharmendra Pradhan will deliver the opening remarks at the inaugural conference of “The Energy Forum” at the India International Centre here on Monday.
While Pradhan has been invited as the Chief Guest, former Chairman of the Atomic Energy Commission of India Anil Kakodkar will be the Guest of Honour.
The conference will witness a gathering of government officials, industry leaders, CEOs and heads of eminent Indian organisations. The discussion, titled ‘India’s energy security – import reduction, sustainability, reduction of CO2 footprint’ will provide a platform to discuss key developments in the global energy industry and its effects on India’s energy future.
India’s rapidly growing economy is driving its need for energy. Starting with a low per capita consumption, India’s current requirement for primary energy is expected to grow at a rate faster than its peers in the coming decades.
Despite India’s immense coal and solar energy potential, there lies a need to import a majority of its oil and gas requirements.
With a growing demand for transport, cooking fuels and petrochemicals, India’s demand for oil and gas is expected to keep growing. However, the emergence of electric vehicles, falling prices of renewable energy, and abundant availability of gas in the world are expected to change the way the world, including India, consume energy in the future.
Oil’s rapid rise to more than USD 80 per barrel has highlighted how global uncertainties affect India’s ability to provide affordable energy to all. It is an opportune moment to discuss strategies to insulate India from these price shocks and global energy uncertainties.
The Energy Forum’s inaugural conference will provide leaders with a platform to deliberate on how global megatrends in the energy sector are likely to impact India. The conference aims at focusing on how policies and new technologies can influence future investments in the energy sector.
The discussions are expected to go a long way in drawing up a broad-based energy charter for a clean, affordable and sustainable energy future of India.