PM Modi to inaugurate International Energy Forum meet

Speed Post News Network

New Delhi : India will host the 16^th International Energy Forum (IEF) Ministerial Meeting from April 10 to 12, 2018, in New Delhi. Prime Minister Narendra Modi will formally inaugurate the Meeting on April 11, 2018.

Petroleum Ministers from 42 countries would attend the meeting. The biennial IEF Ministerial Meetings are the world’s largest gathering of Energy Ministers who engage in a dialogue on global energy issues. The IEF Ministerial meetings are informal dialogues, at both the political and technical levels, aimed at improving policy and investment decisions. The Minister for External Affairs SushmaSwaraj will deliver the valedictory speech at the concluding session on April 12.

Global energy security, sustainable and inclusive growth, energy access and affordability, fiscal regimes and legal reforms to attract investments in the energy sector and energy sector digitalization-benefits and challenges would be part of the deliberations among other important issues, according to a PIB release.

The International Energy Forum (IEF) is an inter-governmental arrangement set up in 1991 based in Riyadh which serves as a neutral facilitator of informal, open, informed and continuing global energy dialogue among its members comprising energy producing and energy consuming states including transit countries.

There are 72 member countries of IEF including India, covering all six continents, which are signatories to the Charter of the IEF. Its membership accounts for 90% of global supply and demand for oil and gas.

At present, India is the Chair of the Executive Board of IEF. By virtue of being among the top 11 largest consumers of oil and gas (India is presently 4^th), India has been the Permanent Member of the Executive Board since 2002. Apart from member countries, invitations have also been extended to 20 other countries where India has oil and gas engagements/interests.