The second version of India Energy Week concluded efficiently in Goa on February 9, 2024, with an announcement that the following version of the worldwide power conclave shall be held at Yashobhoomi in New Delhi on February 11-14, 2025.
Hardeep Singh Puri, Union Minister of Petroleum and Natural Gas and Housing and Urban Affairs, additionally introduced that the fourth version of the worldwide conclave in 2026 could be again in Goa on the IPSHEM-ONGC-Training Institute.
The first India Energy Week was held in Bengaluru in February 2023 as a three-day event.
This 12 months’s four-day event, inaugurated by Indian Prime Minister Narendra Modi, featured international oil, fuel, biofuels, and renewable power firms exhibiting their services and products.
The IEW platform has allowed the worldwide power ecosystem to collaborate, innovate, and develop by means of significant partnerships throughout the power spectrum.
Highlights of India Energy Week 2024 in Goa
Day 1, February 6
PM Modi inaugurated IEW 2024 in Goa. In his inaugural tackle, he emphasised upon India’s dedication to unprecedented ranges of funding in the power sector.
Addressing the gathering of world power leaders, the prime minister underlined that the large authorities spending in the sector would create new avenues for funding in India.
Modi additionally inaugurated the built-in Sea Survival Training Centre, ONGC Institute, in Goa. He witnessed a briefing on underwater escape workout routines and an indication of the coaching centre.
Later in the day, Union minister Puri participated in a ministerial panel titled ‘Ensuring power safety for nations and business in a VUCA world’, alongside with Saad bin Sherida Al-Kaabi, Energy Affairs, Cabinet Minister, Qatar; Vickram Bharrat, Minister of Natural Resources, Republic of Guyana; and Haitham Al Ghais, Secretary General, OPEC.
In one other convention in the course of the day, ONGC Chairman & MD Arun Kumar Singh, whereas collaborating in a panel dialogue titled ‘The business’s function in securing reasonably priced power entry – balancing rising demand and sustainable provide’, stated that India’s power demand would proceed to develop over the approaching years and would solely start to taper off after 17-18 years.
Day 2, February 7
The International Energy Agency (IEA) launched a report ‘Indian Oil Market Outlook to 2030’, stating that India would grow to be the biggest supply of world oil demand development between 2024 and 2030.
Akshay Kumar Singh, MD & CEO of Petronet LNG, whereas talking on the management panel on ‘Developing LNG markets and infrastructure’, stated that India’s achievement of the goal of accelerating pure fuel share in whole power combine to 15 per cent by 2030 from 6 per cent at current was depending on reasonably priced pricing and synchronisation of infrastructure in the availability chain.
India’s G20 Sherpa and former CEO of Niti Aayog Amitabh Kant, whereas talking at a ministerial panel titled ‘South-South Cooperation: Energy for Inclusive Growth’, stated that India would grow to be an exporter of fresh power by 2047. Kant stated that the nation would obtain the milestone by exporting inexperienced hydrogen.
Day 3, February 8
Minister Puri, in a press convention, counseled the expertise improvements showcased at IEW 2024. He stated that India had achieved 12 per cent ethanol mixing with petrol 5 months forward of the estimated goal, and this had led the federal government to revise the goal of 20 per cent ethanol mixing by 5 years to 2025.
Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas, whereas talking on the Spotlight Session titled ‘India – a blueprint of power transition for rising economies’, stated that India’s emergence because the demand centre for power in the world supplied arbitrage alternatives across the globe for procuring pure fuel.
Bharat Petroleum Corporation Limited (BPCL) introduced the launch of ‘Pure for Sure’. The initiative, inaugurated by Hardeep Singh Puri, aimed to eradicate last-mile supply inefficiencies and elevate buyer satisfaction to unprecedented ranges.