India Emerging as a Global Energy Architect: Petroleum Minister
© AP Photo / Saurabh Das
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India is the world's third-largest energy market behind the United States and China, meeting 80% of its crude and gas requirements through imports.
Petroleum Minister Hardeep Singh Puri on Wednesday said that the global energy system is at a defining moment, and India is shaping its way forward.
According to Puri, India is projected to drive 30% of global incremental energy demand by 2050 and over 40% of global oil demand growth.
The minister highlighted that India's energy growth was backed by over $100 billion in upstream investments, 258+ million metric tonnes (MMT) refining capacity, and a gas pipeline network that stretches more than 25,000 km.
According to Puri, India is projected to drive 30% of global incremental energy demand by 2050 and over 40% of global oil demand growth.
The minister highlighted that India's energy growth was backed by over $100 billion in upstream investments, 258+ million metric tonnes (MMT) refining capacity, and a gas pipeline network that stretches more than 25,000 km.
"Today, I believe amidst all the turbulence, amidst all the challenges, there's a great opportunity because we have shed the romantic notions of the world's calm status quo. It isn't, and there's several people who have the capacity to cause those. I don't think I have the capacity because I need to look after my domestic consumption and domestic availability," Puri said in his address at the India Energy Week in Goa.
"But we have also learned that we will navigate through this and we will navigate to make the world in terms of the energy component of economic growth much more resilient, predictable, which will come through adaptation and I think that is something taking place," he added.
"But we have also learned that we will navigate through this and we will navigate to make the world in terms of the energy component of economic growth much more resilient, predictable, which will come through adaptation and I think that is something taking place," he added.
