The Prime Minister Dr. Manmohan Singh has called for building strong partnerships with oil producing countries to meet India's growing energy demand. Inaugurating Petro tech-2010, Dr. Manmohan Singh asserted that government is encouraging oil companies to pursue equity oil and gas opportunities overseas. He said India needs adequate supply of energy at affordable prices and hydro carbons will continue to be our major source of energy for quite some time in future. Dwelling at length at the requirement of growing hydro carbaon through imports, the Prime Minister noted that their demand will increase by 40 percent in the next ten years. He added that the supply from the domestic oil fields is expected to be just twelve percent. Dr. Singh also sought close cooperation from the oil producing countries for effectively dealing with the problem of climate change. The Prime Minister urged the participants to explore the possibility of an association of oil and gas companies to deliberate upon such issues of shared interest. He expressed confidence that diverse spectrum of knowledge and experience in the field of energy exploration and production among the stake holders will result in ideas that would help in the pursuit of energy security. Speaking on the occasion, the Petroleum Minister Murli Deora said that 20 Indian ventures in Oil and Natural Gas are already in operation in different countries and discussions are on with other countries to have similar cooperation. The Minister of State for Oil and Natural Gas Jitinder Prasad also addressed the inaugural session. AIR correspondent reports, the theme of this year's Petro tech is Global Energy Equilibrium. Ahead of the conclave, the biggest-ever exhibition on the occasion of Petro Tech- 2010 is on at Pragati Maidan in New Delhi. More than 350 pavilions, over 200 of them from abroad have been set up. 20 pavilions are dedicated to foreign countries. The exhibition has the minimum possible carbon footprints, with extensive use of eco-friendly materials like bamboo. AIR correspondent who visited the exhibition reports that it is attracting large crowds. This first eco-friendly Exhibition of India has been organized with the help of the Exhibition Partner British Petroleum, on the eve of the petro tech conclave was inaugurated by the Petroleum Minister Murli Deora. About 4000 delegates are participating in the event .They include delegations from Angola, Sudan and captains of the industry of several other countries. This is a unique opportunity to bring all the stake holders in Energy security on one platform to give a push to India’s energy security efforts with a focus on sustainable development.
News On AIR | November 1, 2010 2:17 PM
PM calls for building strong ties with oil producing countries to meet India’s growing energy needs