Fourth India Energy Forum 2020 | UPSC

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Fourth India Energy Forum 2020 | UPSC

Fourth India Energy Forum 2020 | UPSC

      HEADLINES:

PM delivers inaugural address at 4th India Energy Forum

      WHY IN NEWS:

PM delivered inaugural address at 4th India Energy Forum CERAWeek through video conference.

MINISTRY? :-Ministry of Petroleum & Natural Gas
SYLLABUS COVERED: GS 3: Energy

      LEARNING: 

For PRELIMS note down the theme , event co-ordinators and the aim of this event.

For MAINS go through significance and India’s revised energy targets . Let us dive in !

      ISSUE: 

India will emerge as a leading energy consumer and is projected to  nearly double its energy  consumption over the long term.

INDIA ENERGY FORUM

  • On October 26-28, 2020, thousands of delegates from Indian, regional, and international energy companies, institutions, and governments will gather virtually.

The occasion will be the 4th India Energy Forum .

  • This will be under the patronage of Honourable Minister Dharmendra Pradhan and the Ministry of Petroleum & Natural Gas .

CO-ORDINATOR

  • CERAWeek .

THEME 2020

The theme of this edition is “India’s Energy Future in a world of Change“.

Fourth India Energy Forum 2020 | UPSC

KEY TOPICS TO BE DISCUSSED

  • Impact of the Pandemic on India’s future energy demand
  • Securing supplies for India’s economic growth
  • What does energy transition and the climate agenda mean for India?
  • Natural Gas in India’s Energy Mix: What’s the path
  • Refining & petrochemicals: Strategies midst surplus

The pace of innovation:  Biofuel, hydrogen, CCS, electric vehicles and digital transformation

  • Market and regulatory reform

ABOUT CERAWeek

  • In 1983, Cambridge Energy Research Associates (CERA) was founded in Cambridge, Massachusetts.
  • The energy research and consulting firm quickly became known for its critical knowledge and independent analysis .
  • CERAWeek key research is on energy markets, geopolitics, industry trends, technology and strategy.

Over time, the program was expanded to five days of informative sessions and networking opportunities—and named CERAWeek.  

  • The CERAWeek program provides comprehensive insight into the global and regional energy future by addressing key issues .
  • It has become the world’s premier energy event. 
  • The conference is distinctive in the extraordinary depth and breadth of its content, attracting global thought leaders and shaping the global energy agenda.

INDIA’S ENERGY PLAN

  • India’s Energy Plan aims to ensure energy justice while adhering to global commitments to sustainable growth.

India’s energy sector is to be growth centric, industry friendly and environment conscious.

  • PM Says India would continue its efforts to fight climate change.
  • He urges industry to create a transparent and flexible market for both oil & gas.
  • PM lists out the seven key drivers for India’s Energy map.

KEY DRIVERS OF INDIA’s ENERGY

1. Accelerating  our efforts  to move towards a gas-based economy.

2. Cleaner use of fossil  fuels  particularly petroleum and coal

3. Greater reliance on domestic sources to drive bio-fuels.

4. Achieving the renewables target of 450 GW by 2030.

5. Increasing the contribution of electricity to de-carbonize  mobility.

6. Moving into the emerging fuels including  hydrogen

7. Digital innovation across all the energy systems.

SIGNIFICANCE

  • India is the third largest and the fastest growing aviation market in terms of domestic aviation .
  • Indian carriers are projected to increase their fleet size from 600 to 1200 by 2024.

India believes that access to energy must be affordable and reliable.

  • That is when socio-economic transformations can take place.
  • The energy sector empowers people and furthers “Ease of Living” and he listed Government’s initiatives to achieve this.
  • India’s Energy Plan means more energy is needed to improve the lives of Indians with a smaller carbon foot-print.

IMPLEMENTATION AND INTERVENTIONS

  • India the most attractive emerging market for clean energy investment viz, distributing more than 36 crore LED bulbs.
  • The cost of LED bulbs reduced by 10 fold, installing over 1.1 crore smart LED street-lights in the last 6 years.
  • These interventions have enabled an estimated energy savings of 60 billion units per year.
  • The estimated green-house gas emission reduction of over 4.5 crore tonnes of Carbon dioxide  annually and monetary savings of around  Rs. 24,000 crore annually.
  • India is well on track to meet the global commitment.

India’s target to increase the installed renewable energy capacity to 175 GW by 2022 has been further extended to 450 GW by 2030.

  • India is having one of the lowest carbon emissions than the rest of the industrialized world, India would continue its efforts to fight climate change.
  • Reforms in Exploration and Licensing Policy, shifting the focus from ‘revenue’ to ‘production’ maximisation.

One Nation  One Gas Grid‘ to shift the nation towards a gas-based economy.
 

      IASbhai WINDUP: 

  • The Prime Minister said the Government is moving forward with the vision of  ‘आत्मनिर्भर भारत.
  • He added a Self-reliant India will also be a Force Multiplier for the global economy and Energy security is at the core of these efforts.

Efforts have started yielding positive results by way of increased investment in the oil and gas value chain during these challenging times.
 

  • The Government is driving strategic and comprehensive energy engagements with the key global energy players.
  • He added as part of India’s Neighbourhood First Policy, development of energy corridors with our neighbouring countries is prioritized for mutual benefit.
     SOURCES: PIB | Fourth India Energy Forum 2020 | UPSC

 

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