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MoPNG Minister, Dharmendra Pradhan virtually represents India at 7th IEF-IGU Ministerial Gas Forum

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Dharmendra Pradhan represented India at 7th IEF-IGU Ministerial Gas ForumOn 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