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.
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.
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