Press Releases

  • TERI and International Energy Forum Secretariat (IEFS) sign MoU on energy security

    27 July 2005

    Mr Mani Shankar Aiyar, Hon'ble Minister of Petroleum & Natural Gas and Panchayati Raj, presided over the MoU signing ceremony between The Energy and Resources Institute and the International Energy Forum Secretariat (IEFS). TERI, India's leading research and development institute, and the Riyadh-based IEFS have come together to promote global, sustainable energy development. The agreement was signed by Dr R K Pachauri, Director General, TERI; and Ambassador Arne Walther, Secretary General, IEFS here today.

    Under the agreement, the two institutions will specially focus on issues and activities related to energy security, efficient energy use and the links between energy, environment and economic development, mainly in the Asian context. Keeping in view the increasing prominence of energy security concerns, TERI had recently set up a Centre for Research on Energy Security and this MoU is a first step in the direction of analysing various aspects of the issue. IEFS had, earlier this month, signed a similar agreement with the Royal Institute of International Affairs.

    Speaking on the occasion, Ambassador Arne Walther, Secretary General, IEFS, said, "Energy security is again top of the international political and economic agenda. Government leaders are concerned. Because of the importance that energy has for economic and social developments in their individual countries, for political and economic relations between countries, for the world economy and the environment. It is difficult, indeed, to imagine an area where nations are more interdependent than in the confluence of energy, environment and economic development". Talking about the MoU, he added, "India is an active participant in the producer-consumer dialogue; and with its resources and talent, as well as the political, economic and geographic position, India certainly has a leading role to play".

    Dr R K Pachauri, commenting reiterated the importance of energy security for India and said, "I believe India has to look beyond its shores for ensuring economic security, which is critically dependant on security of energy supply. In this respect understanding the reality linking producers and consumers would be extremely important not only for arriving at reliable quantitative estimates related to the energy market, but also for promoting an understanding between different players. There are conflicting scenarios being developed on the future state of the oil market and some of these introduce uncertainties that can create speculative effects to influence sudden movements in oil prices. The uncertainties in the global oil market create a strong need for coordination between an organization like the IEFS on the one hand and TERI on the other".

    The mission of the IEFS is to support and enhance dialogue between energy consuming and producing countries at the Ministers' level within the framework of the International Energy Forum. The global dialogue in the IEF has its focus on energy security as well as on the links between energy, environment and economic development. The 9th IEF Ministerial took place in Amsterdam in May last year, and gathered 59 key energy exporting and importing countries, including India.