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Business News/ Industry / Energy/  India Energy Week: Focus on energy security, transition, alternate fuels
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India Energy Week: Focus on energy security, transition, alternate fuels

The India Energy Week 2024 will also delve into energy transition, the development of a future-ready energy stack, and the exploration of alternate fuels, amidst India's quest for energy security and sustainable growth.

The event gains significance as India has been able to navigate the volatile energy market in the past few years ensuring energy security while working on energy transition.Premium
The event gains significance as India has been able to navigate the volatile energy market in the past few years ensuring energy security while working on energy transition.

New Delhi: The second edition of India Energy Week kicks off in Goa on 6 February with participation from global oil majors including Russia's Rosneft and Saudi Arabia's Saudi Aramco.

Prime Minister Narendra Modi will inaugurate the event, similar to the first edition which took place in Goa.

India Energy Week 2024, which will see participation from 120 countries, is expected to delve into various themes, including energy transition, the development of a future-ready energy stack, and the exploration of alternate fuels, amid India's quest for energy security and sustainable growth.

The four-day event is likely to see over 35,000 attendees, more than 350 exhibitors, over 400 speakers, and about 4,000 delegates, according to the union ministry of petroleum and natural gas.

Among the who’s who of the oil and gas industry in the event will be secretary general of the Organization of the Petroleum Exporting Countries (Opec) Haitham Al Ghais,

Russia’s largest oil company Rosneft PJSC’s CEO Igor Sechin, President and CEO of Malaysia’s state-run Petroliam Nasional Bhd (Petronas) Tengku Muhammad Taufik and its entire board will also attend the event.

Saudi Aramco, one of the largest energy majors, is a sponsor for the event. PM Modi is scheduled to meet the global oil and CEOs in a roundtable discussion.

Among many participants and delegates, energy ministers of 17 countries and CEOs of global oil and gas majors would also attend the event. Energy ministers of Guyana, Nigeria, Iraq and Sri Lanka are expected to be present, among others.

The presence of the global oil and gas companies and PM's meeting with their chiefs comes at a time when India is looking at increasing oil and gas exploration in the country in a bid to raise domestic hydrocarbon produce and reduce its import dependence. About 85% of India's energy requirement is catered through imports. Amid India's diversification efforts Russia and Iraq are currently the top suppliers to India. 

“In just two years, India Energy Week has become a prominent part of the global energy calendar. With the fastest growing major economy, a growing consumer base, and an inviting investment climate, we’ve carved out a niche in the energy landscape," an official statement on Sunday quoted union petroleum and natural gas minister Hardeep Singh Puri as saying.

Organized by the Federation of Indian Petroleum Industry under the aegis of the ministry of petroleum and natural gas, India Energy Week, 2024 would provide a platform for discussions, knowledge exchange, and collaboration among industry experts, policy makers, academia and entrepreneurs.

According to the ministry, the event gains significance as India has been able to navigate the volatile energy market in the past few years ensuring energy security while working on energy transition.

 

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Published: 05 Feb 2024, 12:09 PM IST
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