Future of energy in Delhi debate: PM Narendra Modi to inaugurate IEF16
Prime Minister Narendra Modi will inaugurate the 16th International Energy Forum (IEF16) here on Wednesday. The IEF16, hosted by India, is the largest gathering of Energy Ministers from across the globe, industry leaders and heads of key international organizations who will debate the future of global energy, said Ministry of Petroleum & Natural Gas statement today. The forum aims to foster greater mutual understanding and awareness of common energy interests among its members. Its 72 member countries are signatories to the IEF Charter, which outlines the framework of the global energy dialogue through this inter-governmental arrangement. Apart from them, 20 countries are also participating in this meeting as special invitees.
According to the statement, covering all six continents and accounting for around 90% of global supply and demand for oil and gas, the IEF comprises not only consuming and producing countries of the IEA and OPEC, but also Transit States and major players outside of their memberships, including Argentina, China, India, Mexico, Russia and South Africa.
Hosted by India and co-hosted by China and Korea, IEF16 aims to focus on how global shifts, transition policies and new technologies influence market stability and future investment in the energy sector. Dialogue among Ministers and industry leaders on how energy security and system resiliency will evolve along energy transition pathways, and meet global economic, demographic, and environmental challenges, will help secure an energy future that remains affordable, productive, sustainable and fair to all, said the statement.
Further, the IEF16 delegates have been invited to consider how global market shifts and energy transition will shape the future of energy security. Participants engage in an energy technology neutral dialogue to strengthen energy market stability and achieve global goals through enhanced market transparency, trade, and investment among producing, consuming and transit countries, it said.
Prominent among those attending the ministerial meeting this year include, Dharmendra Pradhan, Minister of Petroleum and Natural Gas, Khalid Al-Falih, Minister of Petroleum and Mineral Resources, Saudi Arabia, Suhail Mohamed Al Mazrouei, Minister of Energy and Industry, UAE, Bijan Namdar Zangeneh, Minister of Petroleum, Iran, Dr Mohammed Bin Saleh Al-Sada, Minister of Energy and Industry, Qatar, Emmanuel Ibe Kachikwu, Minister of State for Petroleum Resources, Nigeria, Kosaburo Nishime, State Minister of Economy, Trade and Industry, Japan, Li Fanrong, Deputy Administrator of National Energy Administration, China, Pavel Sorokin, Deputy Minister of Energy, Russia, Mark Wesley Menezes, Under Secretary of Energy, USA, among others.
Apart from them, Dr Sun Xiansheng, Executive Director, IEF, Fatih Birol, Executive Director, IEA, Mohammad Sanusi Barkindo, Secretary General, OPEC and heads and senior officials from international organizations like CNPC, Total, VOPAK, Exxon Mobil, etc. will also grace the occasion with their presence.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.