Union Minister Hardeep Singh Puri Engages In Energy Talks At Davos
India's Union Minister for Housing & Urban Affairs and Minister for Petroleum and Natural Gas Hardeep Singh Puri had a series of productive discussions with key global leaders in the energy sector at the World Economic Forum (WEF) in Davos.
Puri shared the details of these meetings on his social media account on X.
One of the highlights was Puri's meeting with Catherine MacGregor, the Chief Executive Officer of ENGIE Group. The discussions centred around potential collaboration in areas of Natural Gas, Compressed Bio-Gas (CBG), and Liquefied Natural Gas (LNG), leveraging ENGIE's extensive experience with 492 biomethanation plants worldwide.
Puri commended ENGIE's unique electron+molecule strategy for decarbonization. During the meeting, Puri informed MacGregor about India's commitment to accelerating the adoption of Green Hydrogen and the launch of the National Green Hydrogen Mission.
By 2030, India aims to develop a green hydrogen production capacity of at least 5 MMTPA, coupled with an associated renewable energy capacity addition of about 125 GW, positioning the country as a global hub for green hydrogen production, usage, and export.
In another noteworthy encounter, Puri met Vicki Hollub, President & CEO of Occidental Petroleum. The discussion revolved around opportunities for Occidental Petroleum to participate in India's Exploration and Production (E&P) sector, with a focus on utilising their Carbon Capture Utilisation & Storage (CCUS) technology for enhanced oil recovery. Puri highlighted the substantial reduction in India's 'No-Go' areas for E&P by almost 99 per cent in April 2022, opening up approximately 0.91 million sq km for exploration.
The Union Minister also emphasised the steps taken to dramatically reduce previously restricted areas, making India's entire Exclusive Economic Zones (EEZs) area of 2.36 million sq km available for exploration activities.
Further strengthening India's ties in the energy sector, Puri engaged in an insightful interaction with Alfred Stern, Chairman of the Executive Board & CEO of OMV AG, an Austrian energy major.
The discussions centred around opportunities for India in sustainable biofuels, petrochemicals, and Carbon Capture Utilisation & Storage. Puri detailed India's comprehensive overhaul of the policy framework in the Exploration & Production sector, focusing on four key pillars: data acquisition & policy, acreage award, regulatory relations & contract facilitation, and investor outreach.
The engagements underscore India's commitment to international collaboration, sustainable energy practices, and leveraging cutting-edge technologies for the country's energy security and development.
