Panaji: The forecast on India’s energy consumption is pegged at more than 3.5% till 2050 as against the current global average of 0.8%, placing the country in the top bracket on the international energy landscape, said Mr. Gurmreet Singh, Director General, Federation of Indian Petroleum Industry (FIPI).
He was speaking at the press conference on Friday to provide an overview of the preparations for the India Energy Week (IEW) 2024 to be held from 6-9 February, 2024 at IPSHEM-ONGC Training Institute, Betul, Goa.
The international event will be organised by FIPI under the aegis of the Union Ministry of Petroleum and Natural Gas, Government of India.
Also present were Mr. Sanjeev Singhal, Executive Director and Head, Institute of Petroleum Safety, Health and Environment Management (IPSHEM/ONGC), Mr. Rajiv Jain, Director General, Press Information Bureau (PIB) and Debasish Mukherjee, Chief-Corporate Communication, ONGC.
Mr Singh said that the IEW 2024 will serve as an event to build India’s brand image as a global powerhouse in the energy sector.
“Hon’ble Prime Minister Shri Narendra Modi has said that India’s energy demand will be one the highest in the near future. The world average growth of energy consumption is less than 0.8%, and India’s forecast is going to be more than 3.5% till 2050. The world is relying on India,” he said.
With a focus on the theme of the conference, ‘Growth, Collaboration and Transition’, Jain said that the aim of the conference is to foster partnerships, drive innovations and explore solutions that will propel India’s energy sector into a sustainable and vibrant future.
“The country is a leader in advocating the dynamic global energy landscape. India is growing not only technologically, but industrially as well. When you have growth in energy consumption at a rate of 25% growth, it is a barometer of how our country is advancing. The India Energy Week will also focus on India’s tackling climate change though its net zero emissions target by 2070, and reducing the total carbon emissions by 1 billion tonnes till 2030, while aiming for 50% power generation from renewable energy by 2030. It will also contribute towards placing India on the global energy map by virtue of being the 3rd largest energy consumer in the world,” he said.
Major global oil companies are expected at the conference, said the organisers. More than 35,000 people will be participating. 100+ countries are expected to have a presence, with more than 4000 delegates and 400 speakers.
The event will host an array of exhibitors, spanning core oil field services. Nearly 350 exhibitors will display their products, with 20% of these comprising foreign companies.