Business News | India, IEA to Work Together to Enhance Global Energy Security, Stability, Sustainability
Get latest articles and stories on Business at LatestLY. The Petroleum Planning and Analysis Cell (PPAC), under the ministry of petroleum and natural gas (MoPNG), has signed a statement of Intent (SoI) with International Energy Agency (IEA) to strengthen cooperation in the field of data and research and enhance global energy security, stability, and sustainability. This partnership will lead to an extensive exchange of knowledge.
By Shailesh Yadav
Bengaluru (Karnataka) [India], February 8 (ANI): The government of India and the International Energy Agency (IEA) will work together to strengthen cooperation in the field of data and research and enhance global energy security, stability, and sustainability.
The Petroleum Planning and Analysis Cell (PPAC), under the ministry of petroleum and natural gas (MoPNG), has signed a statement of intent (SoI) with IEA. This partnership will lead to an extensive exchange of knowledge.
The SoI was signed on Wednesday by P Manoj Kumar, Director-General, PPAC, and Fatih Birol, Executive Director, IEA, during the ongoing India Energy Week at the Bangalore International Exhibition Centre. The SoI was signed in the presence of Minister of Petroleum and Natural Gas, and Housing and Urban Affairs Hardeep Singh Puri.
In an exclusive interaction with ANI, Manoj Kumar said, "It is very important day for us, we have signed a statement of intent with the IEA. PPAC has a huge database. It is very unique in critical data as well as the timeliness in petroleum and natural gas. We are going ahead with the petroleum and natural gas and the renewable energy sector. So we need to collaborate with many such international agencies so that we can synergise our effort to have a better reason."
Kumar also said, "IEA has their own expertise, that expertise we will utilise by PPAC and IEW (International Energy Workshop) will use our expertise. We are also exploring other international agencies to have better coordination and collaboration within the energy sector."
Kumar said that the comprehensive datasets and reports would be made available for better analysis and interpretation.
"The training and internships of officers from PPAC to IEA for energy modelling and statistics, by IEA experts, are planned to be organised to develop skillsets required for challenges posed by energy transition," Kumar said, adding that the SoI will provide access to the international thought and view in the energy sector.
Kumar further said that both parties intend to cooperate under the SoI in the areas of energy market data and statistics, biofuels and other emerging fuels. "It will also provide information on global oil and gas markets and technologies relevant for the oil and gas sector."
Both parties will carry out joint studies, including on the demand and supply of oil and gas, growth and stability of global and regional oil and gas markets, and economic advantages of alternative fuels. Both parties also propose to constitute working groups in specific areas of cooperation. (ANI)
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