Transition from fossil fuels to green energy on track in India: Hardeep Singh Puri
Inviting all oil and gas operators to come to India, the minister stated that the transition from fossil fuels to green energy is structured in a way that is beneficial for all.
India’s Minister for Petroleum and Natural Gas, Housing and Urban Affairs, Mr. Hardeep Singh Puri asserted that India’s transition from a fossil-fuel based economy to a green economy is proceeding smoothly.
During an interaction with the media at EXPO2020, the minister said, “What is happening in India is truly extraordinary.” He further added that the transition from a fossil-fuel economy to a green economy will take place within the existing structure, and oil companies will play an essential role in facilitating the same.
Puri also inaugurated the Ministry of Petroleum and Natural Gas section of the India pavilion at EXPO2020, and invited countries of the Gulf Cooperation Council (GCC) and others to invest and take part in this transition.
In his remarks, the minister reiterated the importance of UAE strategic relationship, noting that real growth will now come from India. “India represents the greatest opportunity in the world. We extend an open invitation to all oil and gas operators to come to India.” It is important that the transition from fossil fuels to green energy is structured in a way that is beneficial for all,” he added further.
The minister said that India is moving forward with its plans for bio-fuels and green energy and added, “In 2014, when Mr. Modi became Prime Minister, ethanol blending was at 1% or less.”
“Today, we are already at 8.5% ethanol blending, and I am certain that the 2030 target of 20% ethanol blend, which has now been brought forward to 2025, will result in 20% blended fuel being available at the pump beginning in January 2023, according to Mr. Puri.
According to him, EXPO2020 will be a tremendous opportunity for Indo-UAE relations to be strengthened. The EXPO comes at a particularly interesting time, since India is celebrating its 75th anniversary as an independent country. “And very soon, the UAE, which has been a close friend and strategic partner for us for many years, will also be celebrating its 50th foundation day,” said Mr. Puri.
Expo 2020 is a World Expo, currently being hosted by Dubai, United Arab Emirates, from 1 October 2021 to 31 March 2022. Expo theme is “Connecting Minds, Creating the Future”. There will also be three sub-themes at the expo: opportunity, mobility, and sustainability, each with its own pavilion. Originally scheduled for October 2020 to April 2021, the event was delayed due to the COVID-19 pandemic.
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