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  • India Energy Conference 2008 focuses on building a competitive market for alternative energy sources to move the economy towards a sustainable pathway

    3 October 2008

    The Vice President of India, Sh. Hamid Ansari, Dr R.K. Pachauri, Director-General TERI and Chairman IPCC, Mr Abbas. A Naqi, Secretary General, OAPEC, and Mr Sarthak Behuria, Chairman, Petroleum Federation of India & Indian Oil Corporation Ltd give a clarion-call to improve access to socially acceptable and environmentally sustainable energy sources

    Recognizing the grave financial and security implications the sky-rocketing crude oil prices has on the economy, The India Energy Conference 2008 organised by The Energy and Resources Institute (TERI) in association with Petroleum Federation of India (PetroFed) reiterated the fact that as one of the fastest growth economies of the world, the energy strategy of the country is critical for the achievement of our development objectives and the goal of the government as well as the corporate sector must be to improve access to reliable, affordable, economically viable, socially acceptable and environmentally sustainable energy sources.

    Held at Taj Palace Hotel, New Delhi, the two-day conference was inaugurated by the Hon’ble Vice President of India, Sh. Hamid Ansari. It also had the presence of HE Mr Abbas. A Naqi, Secretary General, OAPEC, Dr. R.K. Pachauri, Director-General TERI and Chairman IPCC, and Mr Sarthak Behuria, Chairman, Petroleum Federation of India & Indian Oil Corporation Ltd, apart from other big-wigs in the oil and gas sector such as RIL, ONGC, GAIL, IOCL, BPCL, BP India, Vestas India etc.

    Addressing the occasion, Dr R.K. Pachauri, Director-General TERI and Chairman IPCC said, "We are going through historic changes in the energy sector, hence renewable and alternate sources of energy should be tapped in a bigger scale. I feel that nuclear energy is an important component of the energy sector. Energy sector needs major investments for R&D and the oil exporting nations will play a quintessential role in supporting the infrastructure and welfare of the local community. I see this as a unique opportunity for these nations to invest in countries like India that would be mutually beneficial. We, in TERI, realize that there is a need for closer relation with the Gulf. Biotechnology in TERI has invented technology to clean up oil spills through 'Oil Zapper'. Just as energy market is changing, there are enormous opportunity to work in collaboration to develop science and technology to meet demands and conserve environment through clean technologies."

    Enunciating on the relevance of the conference, Mr M. Hamid Ansari, Hon'ble Vice President of India said, "Energy for development debate is important and should be multifaceted in nature encompassing environment conservation. Successful nations have harnessed energy security. Government’s energy policy must meet demands at competitive prices and should be economically viable. The direct correlation between energy use and human development is well established. Our goal must remain to improve access to reliable, affordable, economically viable, socially acceptable and environmentally sustainable energy sources. We have no choice but to increase per capita energy consumption to provide to our citizens a minimum acceptable level of well being and welfare. I do hope that the conference deliberations would, while focusing on hydrocarbons, place them within the ambit of broader energy issues affecting us, and come forth with suitable policy options."

    Appreciating the initiative taken by TERI and organizers, Mr Abbas A Naqi, Secretary General, Organisation of Arab Petroleum Exporting Countries (OAPEC), UAE said, "We envisage that Asian nations are expected to use two-third of total oil required in the developing countries. India itself is the fourth largest economy of the world and is the fifth largest energy consumer. OPEC has well-equipped itself to tackle the growing demands without compromising upon the environmental aspect. Fossil fuels will continue to satisfy the growing demands and OPEC is working towards building technologies to create cleaner fuels. We believe that mitigation and adaptation to climate change is necessary and OPEC nations have created a fund of $300 million to conserve environment."

    The two day conference is structured to provide an in-depth analysis of the policy and regulatory aspects in the entire value chain of the hydrocarbon sector. While discussing alternative energy sources, the conference focused in their potential in India and identified policy imperatives required to push these sources to move the economy towards a sustainable pathway. Specifically the conference focused on prospects of bio-fuels in the light of the controversies on the use of land for food v/s fuel. To present a balanced view, conference had national and international players of the new and renewable energy sources as speakers, with sessions ranging from exploration and production, refining, marketing and petroleum product pricing. Panel discussions on natural gas market development, utilization and pricing were an integral part of the sessions.

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