India Energy Week 2023: Global energy leaders laud India; 'most attractive place for...'

Global energy CEOs on Monday lauded the unprecedented possibilities in the energy sectors outlined by Prime Minister Narendra Modi at India Energy Week. The leaders stated that India is emerging as the most attractive destination for the exploration of oil and gas.

PM Modi on Monday, February 6, inaugurated India Energy Week 2023 in Bengaluru and laid out his vision of making India the third-largest economy in the world with a focus on hydrogen, renewable energy and biofuels while pivoting a roadmap to cut reliance on imported oil and gas.

Vedanta Resources Chairman Anil Agarwal said that he had never seen such a presence regarding energy security, renewables, and alternative fuels.

 "Today, amazing meeting with the Prime Minister who addressed and the world leaders - Shell, Total, OPEC chairman - I have never seen presence like this about energy security, renewable, alternative fuel. I have no doubt India is a most attractive place for exploration of oil and gas,"  he said.

Oil India CMO said that Prime Minister Modi appreciated suggestions by international oil agencies. "Leaders from the oil sector in India and across the world met the PM.  He appreciated the suggestions from international oil agencies. Everybody focused on India's effort for decarbonisation. PM highlighted green budget for this year," he said.

The three-day affairs will see the attendance of more than 30 ministers from across the world, over 30,000 delegates, 1,000 exhibitors and 500 speakers who will discuss the challenges and possibilities of India's energy future.

I am awestruck by his leadership: Petronas CEO

Petronas CEO Tengku Muhammad Taufik said that it was an honour to be at India Energy Week and praised PM Modi for sending clear and strong guidelines concerning energy transition.

"Today, the session with CEOs were truly enlightening. I am awestruck... of his leadership, ability to sell the concept and fight for the principle of energy justice even as the world struggles with energy security and affordability for citizens who need energy as they go," Taufik said.

Indian Oil Corporation chairman Shrikant Vaidya stated that the recent Budget emphasised on the green economy, biofuels and green hydrogen. Rahul Dhir, CEO and Executive Director of Tullow Oil, called India the centre of the global markets.

Tellurian CEO Octavio Simoes called the meeting with PM Modi fantastic. "India did a tremendous job in creating a roadmap to achieve sustainability and recognition that there is a need for hydrocarbons to make energy available to all. No country has decided and committed to this as India," he said.

Monica de Virgiliis, Chairwoman, SNAM, said that the takeaways of the event are the need for new energy, the tenacity of industry, local demand and the attractiveness of India to the rest of the world which is promising. "We are here to sign a contract with Indian Oil to support them as technical advisors," she said.

OPEC Secretary General Haitham Al Ghais said that it was an honour to meet PM Modi. "We had an extensive discussion we listened to the vision laid out by him for India and how the energy sector, affordability and accessibility play an important role to make this vision a reality," he said.

Joseph McMonigle, International Energy Forum secretary general, said that India can help the world solve the climate crisis with technology and investment made in innovation in the energy sector. "It is delightful to listen to PM Modi in India Energy week," he said.