G20 collaboration crucial to realize full potential of biofuels, says petroleum secretary
1 min read 18 May 2023, 01:59 PM ISTJain called for increased collaboration among G20 countries to accelerate the development of the global biofuels market
PremiumNew Delhi: It is important that G20 nations work together to tap into the full potential of biofuels to create a more sustainable future, said Pankaj Jain, secretary of ministry of Petroleum and Natural Gas (MoPNG), Pankaj Jain .
Jain was delivering the keynote address at the Global Biofuel Alliance Seminar, organized by the ministry, which was held alongside the 3rd Energy Transition Working Group Meeting. He underscored the growing significance of biofuels in transitioning to cleaner energy sources, their wide-ranging applications, techno-commercial viability, and financing opportunities.
Noting biofuels’ contributions towards economic prosperity, energy security, and affordability, Jain called for increased collaboration among G20 countries to accelerate the development of the global biofuels market. He underlined the technological advancements that have provided diverse biofuel feedstock options such as sugarcane, corn, agricultural waste, and bamboo.
Key players from international energy organizations including the International Energy Agency (IEA), Total Energies, Shell, Lanzatech, and SHV Energy Futuria attended the seminar. Discussions centred around technologies, use cases, partnerships, and business prospects related to biofuels. Participants acknowledged the rising relevance of biofuels in various sectors, from Sustainable Aviation Fuel (SAF) and alcohol-to-jet fuel, to biodiesel, compressed biogas for ethanol production, and renewable Dimethyl Ether (DME).
The seminar succeeded in fostering dialogue and knowledge exchange among industry experts, enhancing understanding of the role of biofuels in addressing the Energy Quadrilemma.
