India to Drive 35% of Global Energy Demand Growth in Next Two Decades, Says Petroleum Minister Puri
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India will contribute to 35% of global energy demand in next 2 decades: Puri at Gastech
Over the next two decades, India will contribute to 35 per cent of the global increase in energy demand, Indian Minister Hardeep Puri said here on Tuesday at a multinational conference held to deliberate on the world's energy needs. The 52nd Gastech Exhibition & Conference kicked off Tuesday with strategic insights from the world's five leading energy ministers, including India's, at the George R Brown Convention Center. The event, themed 'Transforming Energy Through Vision, Innovation, and Action,' brought into focus a need for global energy stability and rapid decarbonisation. In his keynote address, Union Minister of Petroleum & Natural Gas, Hardeep Singh Puri underscored India's increasingly dominant role in the global energy landscape. "If global demand is increasing by one per cent, ours is surging three times faster. Over the next two decades, India will contribute to 35 per cent of the global increase in energy demand," he said. He framed India's challenge as an "energy trilemma," emphasising the need to balance availability, affordability, and a successful green transition. "We are confident in our ability to manage and succeed in the green transition," Puri asserted. The conference's opening ministerial panel, featuring officials from the US, India, Egypt, Nigeria, and Turkey, deliberated on critical geopolitical and industry challenges. Geoffrey Pyatt, Assistant Secretary of State for Energy Resources, emphasised the United States' role in stabilising global energy flows and fostering international cooperation. "With America's unprecedented energy abundance," Pyatt stated, "we are positioned to play a central global role, working closely with our international partners." Egyptian Minister Karim Badawi spoke about his country's strategic position as a key energy gateway and stressed the necessity of creating an investment-friendly environment. Nigeria's Minister of State for Petroleum Resources, Rt Hon Ekperikpe Ekpo, outlined the African nation's unique natural gas opportunities. Industry leaders, including Chevron CEO Mike Wirth and Cheniere Energy CEO Jack Fusco, discussed the impact of India's energy policies on global strategies. Wirth called for dialogues on energy futures, while Fusco emphasised the need for adaptable business models to meet evolving energy demands and climate goals. The discussions also centred on natural gas and LNG, with India's significant investments shaping the global economic landscape. ConocoPhillips CEO Ryan Lance stressed natural gas's pivotal role in driving economic growth and technological progress. The Hydrogen conference and the Climate Tech & AI conference showcased India's growing influence in hydrogen and innovative energy technologies.
[2]
India will contribute to 35% of global energy demand in next 2 decades: Puri at Gastech
Over the next two decades, India will contribute to 35% of the global increase in energy demand, Indian Minister Hardeep Puri said here on Tuesday (September 17, 2024) at a multinational conference held to deliberate on the world's energy needs. The 52nd Gastech Exhibition & Conference kicked off Tuesday with strategic insights from the world's five leading energy ministers, including India's, at the George R Brown Convention Center. The event, themed 'Transforming Energy Through Vision, Innovation, and Action,' brought into focus a need for global energy stability and rapid decarbonisation. In his keynote address, Union Minister of Petroleum & Natural Gas, Hardeep Singh Puri underscored India's increasingly dominant role in the global energy landscape. "If global demand is increasing by one per cent, ours is surging three times faster. Over the next two decades, India will contribute to 35% of the global increase in energy demand," he said. He framed India's challenge as an "energy trilemma," emphasising the need to balance availability, affordability, and a successful green transition. "We are confident in our ability to manage and succeed in the green transition," Mr. Puri asserted. The conference's opening ministerial panel, featuring officials from the U.S., India, Egypt, Nigeria, and Turkey, deliberated on critical geopolitical and industry challenges. Geoffrey Pyatt, Assistant Secretary of State for Energy Resources, emphasised the United States' role in stabilising global energy flows and fostering international cooperation. "With America's unprecedented energy abundance," Mr. Pyatt stated, "we are positioned to play a central global role, working closely with our international partners." Egyptian Minister Karim Badawi spoke about his country's strategic position as a key energy gateway and stressed the necessity of creating an investment-friendly environment. Nigeria's Minister of State for Petroleum Resources, Rt Hon Ekperikpe Ekpo, outlined the African nation's unique natural gas opportunities. Industry leaders, including Chevron CEO Mike Wirth and Cheniere Energy CEO Jack Fusco, discussed the impact of India's energy policies on global strategies. Wirth called for dialogues on energy futures, while Fusco emphasised the need for adaptable business models to meet evolving energy demands and climate goals. The discussions also centred on natural gas and LNG, with India's significant investments shaping the global economic landscape. ConocoPhillips CEO Ryan Lance stressed natural gas's pivotal role in driving economic growth and technological progress. The Hydrogen conference and the Climate Tech & AI conference showcased India's growing influence in hydrogen and innovative energy technologies. Published - September 18, 2024 07:31 am IST Read Comments
[3]
India will contribute to 35% of global energy demand in next 2 decades: Puri at Gastech
The event, themed 'Transforming Energy Through Vision, Innovation, and Action,' brought into focus a need for global energy stability and rapid decarbonisation. In his keynote address, Union Minister of Petroleum & Natural Gas, Hardeep Singh Puri underscored India's increasingly dominant role in the global energy landscape. "If global demand is increasing by one per cent, ours is surging three times faster. Over the next two decades, India will contribute to 35 per cent of the global increase in energy demand," he said. He framed India's challenge as an "energy trilemma," emphasising the need to balance availability, affordability, and a successful green transition. "We are confident in our ability to manage and succeed in the green transition," Puri asserted. The conference's opening ministerial panel, featuring officials from the US, India, Egypt, Nigeria, and Turkey, deliberated on critical geopolitical and industry challenges. Geoffrey Pyatt, Assistant Secretary of State for Energy Resources, emphasised the United States' role in stabilising global energy flows and fostering international cooperation. "With America's unprecedented energy abundance," Pyatt stated, "we are positioned to play a central global role, working closely with our international partners." Egyptian Minister Karim Badawi spoke about his country's strategic position as a key energy gateway and stressed the necessity of creating an investment-friendly environment. Nigeria's Minister of State for Petroleum Resources, Rt Hon Ekperikpe Ekpo, outlined the African nation's unique natural gas opportunities. Industry leaders, including Chevron CEO Mike Wirth and Cheniere Energy CEO Jack Fusco, discussed the impact of India's energy policies on global strategies. Wirth called for dialogues on energy futures, while Fusco emphasised the need for adaptable business models to meet evolving energy demands and climate goals. The discussions also centred on natural gas and LNG, with India's significant investments shaping the global economic landscape. ConocoPhillips CEO Ryan Lance stressed natural gas's pivotal role in driving economic growth and technological progress. The Hydrogen conference and the Climate Tech & AI conference showcased India's growing influence in hydrogen and innovative energy technologies. PTI VN VN
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India's Petroleum Minister Hardeep Singh Puri announces at Gastech conference that India will contribute to 35% of global energy demand growth in the next two decades, highlighting the country's pivotal role in the global energy landscape.
India's Projected Energy Demand Growth
India is poised to play a crucial role in the global energy sector, with Petroleum Minister Hardeep Singh Puri announcing that the country will contribute to 35% of the world's energy demand growth over the next two decades. This significant projection was made during Puri's address at the Gastech conference in Singapore, emphasizing India's expanding influence in the international energy landscape
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.India's Energy Consumption and Economic Growth
The minister highlighted India's current position as the world's third-largest energy consumer, with a daily consumption of about 5 million barrels of oil. This substantial energy use is intrinsically linked to India's robust economic growth, which Puri projects to continue at a rate of 6.5% to 7% in the coming years
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.Diversification of Energy Sources
In response to the growing energy demands, India is actively pursuing a diversified energy mix. Puri emphasized the country's commitment to expanding its natural gas infrastructure, aiming to increase the share of natural gas in the energy mix from the current 6.3% to 15% by 2030. This strategy aligns with global efforts to transition towards cleaner energy sources
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.Investment in Energy Infrastructure
To support its ambitious energy goals, India is making substantial investments in its energy infrastructure. The government plans to spend $67 billion on gas infrastructure alone, which includes expanding the natural gas pipeline network to 34,500 km and increasing the number of compressed natural gas stations for vehicles
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Global Energy Partnerships
Puri emphasized the importance of international cooperation in meeting India's energy needs. He highlighted ongoing discussions with global energy suppliers, including the United States, to secure long-term energy partnerships. These collaborations are crucial for ensuring a stable and diverse energy supply to fuel India's growing economy
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.Balancing Growth and Sustainability
While focusing on meeting the rising energy demand, India is also committed to its climate goals. The country aims to achieve net-zero emissions by 2070 and is working towards reducing its carbon footprint. This balance between growth and sustainability presents both challenges and opportunities for India's energy sector in the coming decades
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