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IEA India Energy Outlook

The International Energy Agency has released the 'India Energy Outlook' giving projections of India's energy demand up to 2040. The report projects a dramatic surge in net oil imports to more than 90% by 2040. The report also states that the increase in oil demand in India will be more than any other country. Although the natural gas consumption is expected to grow three fold to 175 bcm, it will still play a limited role in the overall energy mix at 8%. In case of power generation over 50% of the new capacity will come from renewables. It was felt that oil & gas industry leaders need to review and discuss this outlook projected by IEA and deliberate on policy support to bridge future supply-demand gap to ensure India’ energy security.

Accordingly, a roundtable discussion was organized by the Petroleum Federation of India on December 22, 2015 to deliberate on the recent projections of the International Energy Agency (IEA) report on ‘India Energy Outlook’.

The Hon’ble Union Minister of State (Independent Charge) for Petroleum & Natural Gas, Shri Dharmendra Pradhan chaired the meeting which was also attended by senior officials of MoP&NG, Ministry of External Affairs, NITI Aayog, Petroleum Planning & Analysis Cell and CEOs and Directors of Oil & Gas majors as well as service companies in India.

During the intense deliberations industry leaders freely expressed their views on the possible course of action and policy options for the country.

The background paper prepared by PetroFed on IEA-India Energy Outlook to 2040 and gist of the discussion can be accessed here.

Dr. R. K. Malhotra, Director General, PetroFed welcoming Shri Dharmendra Pradhan, Hon’ble Union Minister of State (I/C) for Petroleum & Natural Gas (second from left) with a bouquet of flowers. Also seen in the picture are Shri K. D. Tripathi, Secretary, Ministry of Petroleum & Natural Gas (left) and Shri B. Ashok, Chairman, IndianOil and Chairman, PetroFed (right).

Shri K. D. Tripathi being greeted with a bouquet of flowers by Shri S. Rath, Director (Exploration & Production), PetroFed.

Hon’ble Union Minister of State (I/C) for Petroleum & Natural Gas, Shri Dharmendra Pradhan being honoured by Chairman, PetroFed and Chairman, IndianOil, Shri B. Ashok by presenting an uttariya.

Shri K. D. Tripathi, Secretary, Ministry of Petroleum & Natural Gas being honoured by Vice Chairman, PetroFed and President (Refinery Business), Reliance Industries Limited, Shri P. Raghavendran by presenting an uttariya.

Shri B. Ashok, Chairman, PetroFed and Chairman, IndianOil welcoming the participants.

Dr. R.K. Malhotra, Director General, PetroFed presenting the key issues in IEA’s India Energy Outlook.

Hon’ble Union Minister of State (Independent Charge) for Petroleum & Natural Gas, Shri Dharmendra Pradhan expressing his views on India Energy Outlook. (L-R) Shri Sunjay Sudhir, Joint Secretary (IC), MoP&NG; Shri K.D. Tripathy, Secretary, MoP&NG, Shri Dharmendra Pradhan, Shri B. Ashok, Chairman PetroFed and Chairman India Oil; Shri P. Raghavendran, Vice Chairman PetroFed and President (Refinery Business), RIL; Dr. R.K. Malhotra, Director General, PetroFed..

Seated (L-R): Shri R. S. Butola, former Chairman, IndianOil and Member, PetroFed Governing Council; Ms. Atreyee Das, Director General, Petroleum Planning & Analysis Cell; Shri Binaya Srikanta Pradhan, PS to Minister of State (I/C) for Petroleum & Natural Gas; Shri Sambit Tripathi, OSD to Minister of State (I/C) for Petroleum & Natural Gas and Shri Soumen Bagchi, Joint Secretary (ES), Ministry of External Affairs

Session in progress.

Participants keenly watching the presentation.

Industry leaders at the session.