Home / Industry / Energy /  PPAC signs SoI with IEA to strengthen cooperation in the field of data and research in energy sector

NEW DELHI : Petroleum Planning and Analysis Cell (PPAC) signed a Statement of Intent (SoI) with International Energy Agency (IEA) to strengthen cooperation in the field of data and research and enhance global energy security, stability, and sustainability. 

The SoI was signed in the presence of Union Minister of Petroleum and Natural Gas and Housing and Urban Affairs, Hardeep S. Puri on the sidelines of India Energy Week 2023. 

“The Statement of Intent will initiate the cooperation in the energy sector between PPAC and IEA with various areas of cooperation as specified. Further, the comprehensive datasets, reports, analysis will be made available for better analysis and interpretation," the Ministry of Petroleum and Natural Gas said. 

The training and internships of officers from PPAC to IEA for energy modelling and statistics, by IEA experts are planned to be organized to develop skillsets required for challenges posed by energy transition. The SoI will provide access to the international thought and view in the energy sector.

“Both the Parties intend to co-operate under the partnership on the areas of Energy market data and statistics, biofuels (bioethanol and biodiesel) and Compressed Bio-Gas (CBG) and other emerging fuels. It will also provide information on global oil and gas markets and technologies relevant for the oil & gas sector," the ministry added. 

Joint studies, including on demand and supply of oil & gas, growth and stability of global and regional oil & gas markets, and economic advantages of alternative fuels will also be conducted under the SoI. 

Both the parties also propose to constitute working groups in specific areas of cooperation, the ministry said.

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Recommended For You
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout