India, US agree to explore ways to strengthen cooperation across energy value chain

Union Minister of Petroleum and Natural Gas Hardeep Singh Puri held a meeting with US Assistant Secretary of State for Energy Resources Geoffery Pyatt on the sidelines of GasTech 2024 in Houston. The two leaders reviewed the existing energy cooperation and agreed to explore ways to further strengthen bilateral cooperation across the energy value chain for “just and orderly energy transition.”

During the meeting, Puri and Pyatt discussed how the cooperation between two nations is strengthening in the energy sector due to collaboration between the institutions and companies from India and the US.

Sharing details regarding his meeting with Geoffery Pyatt, Hardeep Singh Puri stated, “Met my friend for more than three decades & US @AsstSecENR Mr Geoffery Pyatt at #GasTech2024 in Houston today.”

“We reviewed the existing energy cooperation & agreed to explore ways to further strengthen bilateral cooperation across the energy value chain for just & orderly energy transition. Also discussed how our cooperation in energy sector is both broadening & deepening due to the excellent collaboration between the institutions & companies from both sides,” he added.

Hardeep Singh Puri, who is on a visit to the US, inaugurated the India Pavilion at GasTech. He noted that the Indian companies present in GasTech event showcase their latest technological advancements, capabilities and future opportunities to collaborate and invest.

In a post on X, Puri stated, “Delighted to inaugurate the India Pavilion which marks a strong presence of India’s energy sector entities at @GastechEvent, the world’s largest event for the natural gas, LNG, hydrogen, low-carbon solutions, and climate technology industry in Houston.”

“As India journeys towards energy self-sufficiency under the leadership of PM @narendramodi Ji, the Indian companies which are present in the premier event in large numbers showcase their latest technological advancements, capabilities and future opportunities to collaborate & invest,” he added.

Union Minister of Petroleum and Natural Gas also joined a ministerial panel at GasTech 2024 alongside Egyptian Minister Karim Badawi, Nigeria’s Minister Ekperikpe Ekpo, Turkish Minister Alparslan Bayraktar and US Assistant Secretary of State for Energy Resources Geoffery Pyatt.

He stated that world, without India’s proactive approach, could have faced a more severe energy crisis. He noted that India’s energy demand is expected to rise at a compounded annual growth rate of about 3 per cent per annum by 2040 and it is estimated to double by 2050.

In a post on X, Puri stated, “Delighted to join a Ministerial Panel with fellow Ministers from Egypt, HE Karim Badawi, Nigeria Rt Hon Ekperikpe Ekpo & Turkiye HE Alparslan Bayraktar & @AsstSecENR Mr. Geoffrey Pyatt, in a session on “From mitigation to adaptation: Navigating volatile geopolitics in a fragmenting global order” moderated by Prof. John Defterios, @NYUAbuDhabi at @GastechEvent, the world’s largest event for the natural gas, LNG, hydrogen, low-carbon solutions, and climate technology industry in Houston. I spoke about how the emerging markets are reshaping the global energy landscape with nearly 80 per cent of the increase in global energy demand by 2045 to come from emerging economies.”

“This surge in demand is driving substantial investments in both conventional and renewable energy sources. Without India’s proactive approach, the world could have faced an even more severe energy crisis. India is the world’s fastest growing large economy, consuming about 5 mb/d of crude, 67 million people visit petrol pumps every day in India. India’s energy demand is expected to grow at a compounded annual growth rate of about 3% per annum by 2040 and it is estimated to double by 2050. India has adopted a pragmatic & balanced approach that underscores climate commitments while safeguarding national interests under the leadership of PM @narendramodi Ji,” he added.

Highlighting measures taken by India to increase domestic production, Puri in a post on X further said, “We have taken several measures to enhance domestic production, diversify the supplies, accelerated adoption of low carbon solutions like biofuels, EVs & Hydrogen. Our initiatives like the International Solar Alliance (ISA) and the Global Biofuels Alliance (GBA) illustrate the power of global partnerships in accelerating clean energy deployment.”

Earlier on Monday, Hardeep Singh Puri and US Energy Secretary Jennifer Granholm convened the Strategic Clean Energy Partnership (SCEP) Ministerial, where they welcomed the progress made under the partnership to drive clean energy innovation, strengthen energy security, and accelerate clean energy transitions.

During the meeting in Washington, DC, on Monday, the two sides reviewed the initiatives undertaken across the technical pillars under the SCEP, including Power and Energy Efficiency, Responsible Oil and Gas, Renewable Energy, Emerging Fuels and Technologies, and Sustainable Growth.

“The ministers welcomed progress made under the partnership to drive clean energy innovation, strengthen energy security, and accelerate clean energy transitions, including through more focused efforts on clean energy manufacturing and building resilient, responsible, stable, secure and diversified supply chains,” the Ministry of Petroleum and Natural Gas stated.