The second edition of India Energy Week concluded successfully in Goa on February 9, 2024, with an announcement that the next edition of the global energy conclave will be held at Yashobhoomi in New Delhi on February 11-14, 2025.
Hardeep Singh Puri, Union Minister of Petroleum and Natural Gas and Housing and Urban Affairs, also announced that the fourth edition of the global conclave in 2026 would be back in Goa at the IPSHEM-ONGC-Training Institute.
The first India Energy Week was held in Bengaluru in February 2023 as a three-day event.
This year’s four-day event, inaugurated by Indian Prime Minister Narendra Modi, featured global oil, gas, biofuels, and renewable energy companies exhibiting their products and services.
The IEW platform has allowed the global energy ecosystem to collaborate, innovate, and grow through meaningful partnerships across the energy spectrum.
Highlights of India Energy Week 2024 in Goa
Day 1, February 6
PM Modi inaugurated IEW 2024 in Goa. In his inaugural address, he emphasised upon India’s commitment to unprecedented levels of investment in the energy sector.
Addressing the gathering of global energy leaders, the prime minister underlined that the massive government spending in the sector would create new avenues for investment in India.
Modi also inaugurated the integrated Sea Survival Training Centre, ONGC Institute, in Goa. He witnessed a briefing on underwater escape exercises and a demonstration of the training centre.
Later in the day, Union minister Puri participated in a ministerial panel titled ‘Ensuring energy security for nations and industry in a VUCA world’, along with Saad bin Sherida Al-Kaabi, Energy Affairs, Cabinet Minister, Qatar; Vickram Bharrat, Minister of Natural Resources, Republic of Guyana; and Haitham Al Ghais, Secretary General, OPEC.
In another conference during the day, ONGC Chairman & MD Arun Kumar Singh, while participating in a panel discussion titled ‘The industry’s role in securing affordable energy access – balancing growing demand and sustainable supply’, said that India’s energy demand would continue to grow over the coming years and would only begin to taper off after 17-18 years.
Day 2, February 7
The International Energy Agency (IEA) released a report ‘Indian Oil Market Outlook to 2030’, stating that India would become the largest source of global oil demand growth between 2024 and 2030.
Akshay Kumar Singh, MD & CEO of Petronet LNG, while speaking at the leadership panel on ‘Developing LNG markets and infrastructure’, said that India’s achievement of the target of increasing natural gas share in total energy mix to 15 per cent by 2030 from 6 per cent at present was dependent on affordable pricing and synchronisation of infrastructure in the supply chain.
India’s G20 Sherpa and former CEO of Niti Aayog Amitabh Kant, while speaking at a ministerial panel titled ‘South-South Cooperation: Energy for Inclusive Growth’, said that India would become an exporter of clean energy by 2047. Kant said that the country would achieve the milestone by exporting green hydrogen.
Day 3, February 8
Minister Puri, in a press conference, commended the technology innovations showcased at IEW 2024. He said that India had achieved 12 per cent ethanol blending with petrol five months ahead of the estimated target, and this had led the government to revise the target of 20 per cent ethanol blending by five years to 2025.
Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas, while speaking at the Spotlight Session titled ‘India – a blueprint of energy transition for emerging economies’, said that India’s emergence as the demand centre for energy in the world provided arbitrage opportunities around the globe for procuring natural gas.
Bharat Petroleum Corporation Limited (BPCL) announced the launch of ‘Pure for Sure’. The initiative, inaugurated by Hardeep Singh Puri, aimed to eradicate last-mile delivery inefficiencies and elevate customer satisfaction to unprecedented levels.