Petroleum Minister Dharmendra Pradhan today inaugurated the 5th International Energy Forum (IEF) and the International Gas Union Ministerial Forum in New Delhi. The forum is being held as a parallel event to the 3-day Petrotech-2016. <br/><br/>On the occasion, Mr Pradhan said compared to international average, the share of gas in India's primary energy basket is only at about 6.5 percent and the government have set a target to raise the share from the current level to 15 percent.<br/><br/>Mr Pradhan gave details of the initiatives taken by the government, allowing 100 percent FDI in many segments of the hydrocarbon sector, successful conclusion of open bidding under a new marginal fields policy and introduction of new hydrocarbon exploration licensing policy.<br/><br/> He said, the government is also giving top priority to allocation of domestically produced gas for city gas distribution and pooling of gas for fertilizer and power plants. <br/><br/> 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.