On December 4, 2020, Union Minister of Petroleum & Natural Gas, Dharmendra Pradhan represented India at the Virtual Ministerial Roundtable of 7th IEF-IGU (International Energy Forum-International Gas Union) Ministerial Gas Forum held from Kuala Lumpur, Malaysia. The Forum was hosted by the Government of Malaysia.
i.It is a Biennial event and is being held Online for the First Time.
ii.The Theme of the Forum – “Towards Recovery and Shared Prosperity: Natural Gas Opportunities for a Sustainable World”.
iii.It was inaugurated by Muhyiddin Yassin, Prime Minister of Malaysia.
Objective:
i.To identify and advance energy policies and business strategies to support evolution of global gas markets.
ii.Exploring new natural gas market prospects, enabling a sustainable future.
To Achieve shared prosperity Post COVID-19 era.
Key Points from Pradhan’s Address:
i.Dharmendra Pradhan emphasized the cooperation between Natural Gas Producing and Consuming Nations to utilize the opportunities presented by the Pandemic.
ii.He cited the example of Gujarat, which has 25% of share of natural gas in the primary energy mix with 6.3 % at the national level.
iii.The Union Minister shared his views regarding finding new market principles and mechanisms, delinking LNG (Liquefied Natural Gas) markets from oil markets & addressing rigidities in LNG marketing structures for expanding global demand for LNG.
iv.He also promoted greater use of natural gas for a decarbonised and sustainable world.
Fact: –
According to the International Energy Agency, the United States is the largest producer of Natural Gas in the World.
Recent Related News:
i.June 16, 2020, India’s first nationwide online delivery-based natural gas trading platform, “Indian Gas Exchange (IGX)” was virtually launched by Union Petroleum and Natural Gas Minister Dharmendra Pradhan.
About International Energy Forum (IEF):
There are 70 members in IEF
Secretary General – Joseph McMonigle
Headquarters – Riyadh, Saudi Arabia
About International Gas Union (IGU):
President – Joe M. Kang
Headquarters – Barcelona, Spain
