Prime Minister Narendra Modi will inaugurate the annual India Energy Forum by CERAWeek on Monday and interact with chief executives of leading global oil and gas companies in the annual event organised by NITI Aayog and ministry of petroleum and natural gas.
“The objective behind the meeting is to deliver a global platform to understand best-practices, discuss reforms, and inform strategies for accelerating investments into the Indian Oil and Gas value chain. The event also grows in stature with the rise of India, the world’s third-largest energy consumer, which is likely to see over USD 300 billion investment by 2030 in the Oil & Gas sector to meet rising demand,” the Prime Minister’s Office (PMO) has said in a statement.
Here’s everything you need to know about the event:
1. The event, which is being hosted by IHS Markit, will convene an international group of speakers and a community of more than a thousand delegates from India and over 30 countries, including dignitaries from regional energy companies, energy-related industries, institutions and governments.
2. This is the fifth such event organised by NITI Aayog and ministry of petroleum and natural gas. Around 45-50 global CEOs of major oil and gas companies will attend the event this year. NITI Aayog initiated the first roundtable of global oil and gas CEOs with the Prime Minister in 2016.
3. Oil minister Dharmendra Pradhan will make opening remarks which will be followed by a comprehensive presentation giving an overview of the oil and gas sector, and explaining the ambition and opportunities in the sector in India. After this will follow an interaction session with global CEOs and experts.
4. Featured speakers include US secretary of energy Dan Brouillette, secretary general of the Organization of the Petroleum Exporting Countries (OPEC) Mohammad Sanusi Barkindo; Saudi Arabia’s minister of energy Abdulaziz bin Salman Al Saud; BP’s group chief executive Bernard Looney; chairman and CEO of TOTAL SA Patrick Pouyanné; president and group CEO of Petronas Tengku Muhammad Taufik; Reliance Industries Limited chairman and managing director Mukesh Ambani and president and CEO of Tellurian Inc Meg Gentle.
5. Key topics that will be explored include:
Impact of the pandemic on India’s future energy demand
Securing supplies for India’s economic growth
What do energy transition and the climate agenda mean for India?
Natural gas in India’s energy mix: What’s the path?
Refining and petrochemicals: Strategies midst surplus
The pace of innovation: Biofuel, hydrogen, CCS, electric vehicles and digital transformation
Market and regulatory reform: What is ahead?