The Prime Minister Dr Manmohan Singh has said, adequate supply of energy at affordable prices is critical to the economic growth of the country. Inaugurating the Petrotech Conference- 2014 on the outskirts of Delhi in Greater Noida today, Dr Singh stressed on bridging the gap between demand and supply of energy. On India being the 4th largest energy consumer in the world, Dr Singh underlined the need to increase energy supplies by three to four times over the next decade to meet the growing demand. He said, India is encouraging domestic and global companies to explore potentially hydrocarbon-rich areas and has made a number of changes in its energy policy regime.

Referring to the adverse consequences of unclean energy consumption, the Prime Minister reiterated India's commitment to reducing its carbon footprint. Dr Singh said that India is fully determined to reduce carbon emissions alongside high economic growth.

Petrotech is a biennial International oil and gas conference. Companies from more than 15 countries are participating in the event focussing on Vision 2030: The Emerging Global Energy Basket. The conference will discuss the Planning, Politics, Partnership, Production and Policy of the exploration and production business in petroleum sector.