India will continue to lead global sustainable energy agenda, Pradhan

New Delhi: The Minister of Petroleum and Natural Gas & Steel Dhamendra Pradhan has said that India will continue to lead the global sustainable energy agenda.

Delivering the key note address at the TERI's World Sustainable Development Summit 2020 on 'Energy Future Road Map' on Thursday, the Minister said "We, in India, are in the midst of a major transformative shift in our energy sector, both in scale and complexity and also the interdependence across different systems. The trajectory to end energy poverty in India, as compared to the rest of the world, is based on our special national circumstances. The right mix of enablers are being put in place to ensure that the energy transition is secure, affordable, reliable and sustainable."

He added "to end energy poverty in the country, we will remain cognizant of the need to root economic development firmly to achieve the 2030 UN Sustainable Development Goals and commitments made at COP 21."

Briefing about energy requirements, the Minister said "India is now the third largest energy consumer after the US and China. While our energy demand increased to 882 million tonnes of oil equivalent (Mtoe) in 2017, the per capita consumption of energy is still 30 per cent of the global average. Our energy consumption is projected to grow at 4.2 percent per annum up to 2035. India's share of the total global primary energy demand is set to roughly double to about 11 percent by 2040, driven by strong economic development. In India, we are finding ways to achieve the twin objectives of more energy availability and less carbon through a healthy mix of all commercially-viable energy sources."

Pradhan added that despite our system-wide energy transition measures, crude oil would continue to play a critical role at this stage of development in meeting country's energy requirements.

He said the Government has set out a road map for reducing India's crude oil imports by 10 per cent by 2022. "We are in the process of developing new strategies and initiatives to achieve this target. We are working towards transformation to a gas-based economy, tapping into indigenously produced biofuels, apart from adopting renewable energy and energy efficiency measures, to achieve the much-needed carbon reductions. As part of the energy transition, decarbonisation of the energy sector is picking up momentum in India" Pradhan said.