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India signs Strategic Partnership Agreement with IEA for Energy Security

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India signs Strategic Partnership Agreement with International Energy Agency (IEA)On 27th January 2021, Government of India has signed a Framework for Strategic partnership agreement with the International Energy Agency (IEA) that will play a crucial role in enhancing global energy security. This initiative will pave the way for India to become a full time member of IEA.

Representative- The Agreement was Signed by Mr. Sanjiv Nandan Sahai, Secretary (Ministry of Power, India) and Dr. Fatih Birol, Executive Director of IEA.

About the Partnership Agreement:

i.India will enhance its cooperation towards energy security with Key inputs from IEA member countries.

ii.Focus Areas- Strategic cooperation in IEA’s Clean Energy Transitions Programme (CETP) – Energy Security, Stability & Sustainability, Enhancing Petroleum storage capacity in India etc.

iii.Inputs from IAE members will be a stepping stone for India’s plan to become a gas based economy.

iv.The IEA Secretariat will be responsible for implementation of the cooperative activities in India and for facilitating discussion between the IEA Members and India to further develop the Strategic Partnership.

Recent Related News:

i.IEA’s India 2020 energy policy review: India to surpass China in terms of oil demand growth by mid-2020s

ii.According to the International Energy Agency’s (IEA) report, Renewables 2020 – Analysis and Forecast to 2025, India’s Renewable Energy sector will see the largest growth after COVID-19. India will double its green energy capacity addition in 2021 compared to 2020 levels.

About International Energy Agency (IEA):

Executive Director – Dr Fatih Birol
Headquarters – Paris, France
Founded – November 1974
Members Countries- 30 member countries and 8 association countries