5th IEF-IGU Ministerial Forum inaugurated

Minister of Energy and Mines, Brazil, H.E. Fernando Bezerra FILHO, Minister of Commerce, Industry and Tourism, Cyprus H.E. Mr. Yiorgos LAKKOTRYPIS, Minister of Petroleum and Gas, Nigeria H.E. Dr. Emmanuel Ibe KACHIKWU, Minister of Energy and Industry, Qatar H.E. Mr. Mohammed bin Saleh AL-SADA, Deputy Minister for Gas Affairs of Ministry of Oil, Iraq H.E. Dr. Hamed Younis SALEH, Secretary General, OPEC Mr. Mohammed Sanusi BARKINDO, Secretary General, International Energy Forum, Dr. Sun XIANSHENG, President, International Gas Union, Mr. David CARROLL and Secretary General, International Gas Union Mr. Luis Bertran RAFECAS were present on the occasion.

Shri Pradhan said that the theme of this meet was "Gas for Growth: Improving economic prosperity and living standards."

He said compared to international average, the share of gas in India’s primary energy basket is only at about 6.5% and we have set a target to raise the share of gas in primary energy from the current level to 15%. This means annual gas consumption would accelerate from about 50 BCM to above 200 BCM in future. The Minister said that that a shift towards a gas based economy would require adequate availability of natural gas through domestic production as well as imports, adequate investments in pipeline, LNG import terminal and City Gas Distribution infrastructure and even financial support in the form of incentives.

Talking about the international collaboration in the area of natural gas, the Minister said the world needs even greater co-operation among countries on gas technologies, such as Shale and Gas Hydrates. Similarly, a number of large Asian LNG buyers, including India, could benefit by joining hands and thereby, possibly, bring in more equitable trade deals.

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