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Concurrent Events of India Energy Week 2023: India hosted the AMER9, OPEC released ‘World Oil Outlook 2045’

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India hosts the 9th Asian Ministerial Energy Roundtable

-India hosted the AMER9 in association with IEF

India hosted the 9th Asian Ministerial Energy Roundtable (AMER9) in association with the International Energy Forum (IEF) on 7 February 2023 at the India Energy Week 2023 which was held from February 6–8, 2023, in Bengaluru, Karnataka.

  • The theme for the roundtable was ‘Mapping new pathways for energy security, inclusive growth and energy transitions’. 
  • AMER9 has been a platform for dialogue between producers, consumers & International Organizations to join and debate energy issues which confront the Asian and the global energy sector.

Growth of Asian Economy: 

i.The Asian Economy has grown at the average rate of 5.5 % over the preceding two decades.

  • In 2021, the Asian Economy registered a growth of 6.5 %, and it is expected to moderate to 4.0% in 2022 and rise to 4.3 % in 2023.

ii.The Asian share of global GDP (Gross Domestic Product) has increased from 38% to 45% and is likely to exceed 50% by 2030.

iii.Transfer of low-cost clean scalable technologies, financing for R&D (Research and development) and deployment of clean technologies are being important to mitigate climate change. 

Key Points:

i.By October 2022, India’s installed Renewable Energy (RE) capacity stands at 166 Giga Watt (GW) whereas the nuclear energy-based installed electricity capacity stands at 6.78 GW.

ii.2G refineries are being set up by India for utilising agricultural waste and bamboo to make ethanol, using indigenous technology.

  • Backdrop: In February 2023 Prime Minister, Narendra Modi launched a pilot for ‘E20’ i.e., petrol blend with 20% ethanol.
  • Ethyl alcohol or ethanol (C2H5OH) is a biofuel that is made naturally by fermenting sugar derived from sugarcane or other organic matter like foodgrains.

iii.15 cities were set to be covered under phase 1 and the ministry was targeting a phased rollout of E20 in the entire country within April 2025. 

iv.Target was also made to set up production capacity of 15 MMT of CBG (Compressed Bio Gas) from 5000 plants by 2023 with an investment of US $20 billion.

v.The ministry was also Setting-up pilot scale and commercial-scale green hydrogen manufacturing plants at several Refineries.

-Petroleum Ministry inks pact with IEA on data sharing

The Ministry of Petroleum has signed a pact with the Paris-based International Energy Agency (IEA) for strengthening cooperation in the field of data and research and for enhancing global energy security, stability, and sustainability.

  • The Statement of Intent (SoI) was signed by P Manoj Kumar, Director General of Petroleum Planning and Analysis Cell (PPAC) and Fatih Birol, Executive Director of IEA, in the presence of Petroleum and Urban Affairs Minister Hardeep Singh Puri.
  • The SoI will enable cooperation between the PPAC and the IEA in the areas of energy market data and statistics, biofuels (bioethanol and biodiesel) and CBG and other emerging fuels.
  • Officers from PPAC to IEA would be provided with training and internships for energy modelling and statistics by IEA experts.

-Highlights of OPEC’s ‘World Oil Outlook 2045’:

As per report ‘World Oil Outlook 2045’ released by Organisation of the Petroleum Exporting Countries (OPEC) at the India Energy Week 2023, India and China alone will account for 37% of global GDP in 2045 whereas the OECD will account for 34%.

  • The global oil demand is projected to increase to 13 million barrels per day (mbd) hitting almost 110 mbd by 2045, in which the largest incremental demand is likely to be observed in India at 6.3 mbd, followed by Other Asia (4.7 mdb), Middle East (3.7 mbd) and Africa (3.6 mbd).

Key Points:

i.By 2045, Oil demand will grow at a rate of more than 2 % per annum in India and Africa and 1% per annum in Other Asia. 

ii.Global primary energy demand is expected to increase from 286 million barrels of oil equivalent a day (mboe/d) in 2021 to 351 mboe/d in 2045, a rise of 23%. India alone accounts for 28%, or roughly 19.32 mboe/d, of this expansion.

iii.The OPEC report estimates that $12.1 trillion is required over the long term of which $9.5 trillion is needed in the upstream sector, while $1.6 trillion and $1 trillion will be required in the downstream and midstream sectors.

iv.The global population is set to increase by 1.6 billion between 2021 and 2045, from 7.9 billion to 9.5 billion.

v.Demand for oil as a primary fuel is anticipated to increase from 88 mboe/d in 2021 to 101 mboe/d in 2045, with its share in the energy mix dropping from 31% to just below 29%.

-Greenko signs pact with John Cockerill to source electrolysers

Greenko Group has signed an agreement with Belgium-based John Cockerill for supply of 28 units of 5 MW alkaline electrolysers to be installed at a green ammonia plant being set up at Una in Himachal Pradesh.

Key Points:

i.The 300-mt-per-day plant, being jointly developed by Greenko ZeroC, a subsidiary of Greenko Group, and John Cockerill, will be the largest green ammonia plant in India to date.

ii.The 28 units of 5 MW electrolyser which will be installed at the Una site will enable hydrogen production capacity of 140 MW of high pressure alkaline electrolysers. 

iii.The electrolysers are due to be delivered in March 2024 and the plant is set to be commissioned by June 2024.

iv.John Cockerill and Greenko are also jointly developing a 2 GW per year electrolyser manufacturing plant in Kakinada, Andhra Pradesh.

Recent Related News:

Keppel Infrastructure Holdings Pte Ltd (Keppel Infrastructure) and Greenko Group (Greenko), through their respective subsidiaries Keppel New Energy Ventures Pte Ltd and Greenko ZeroC Private Limited, have signed a Memorandum of Understanding (MoU) to jointly explore green ammonia and renewable energy prospects in order to meet the growing demand for low carbon energy in India, Singapore, and globally.

About Ministry of Petroleum and Natural Gas:

Union Minister –  Hardeep Singh Puri (Rajya Sabha  Uttar Pradesh)
Minister of state – Rameswar Teli (Dibrugarh, Assam)