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Recap: The Institute Attends India Energy Week 2024
1st March 2024
During the first week of February, the Institute was pleased to participate at the annual India Energy Week (IEW) in Goa.
The conference was held under the patronage of India’s Ministry of Petroleum and Natural Gas, and supported by the Federation of Indian Petroleum Industry.
India’s Prime Minister, Shri Narendra Modi, inaugurated the first day of the conference and reiterated India’s commitment to global collaboration on energy solutions and to reaching net zero by 2070. This year’s IEW focused on sustainable energy that aligns with India’s net-zero targets, specifically through increasing the global sustainable energy dialogue, showcasing innovative technologies, and growing partnerships. In line with net-zero targets, carbon capture featured prominently at IEW 2024 with a dedicated side event titled “CCUS Conference” as a bridge between economic growth and climate obligations. The key areas of discussion, that the GCCSI representatives attended and contributed to, centred on the creation of CCUS business models, industry partnerships, policy framework, and government support.
The IEW conference brought together 35,000 attendees, 350 exhibitors, 400 speakers, and over 4000 delegates from 100+ countries. In particular, attending the event were high-level speakers and stakeholders from across the Indian government entities, including India’s energy think-tank NITI Aayog, the National Thermal Power Corporation (NTPC), the Oil and Natural Gas Corporation (ONGC), the Indian Oil Corporation Ltd. (IOCL), the Bureau of Energy Efficiency (BEE), and the Directorate General of Hydrocarbons (DGH) under the Ministry of Petroleum and Natural Gas.
The IEW conference came two months after India’s Bureau of Energy Efficiency (BEE) issued a document that lays the ground rules for launching a compliance carbon market. During the IEW conference, the presentations made by Mr. Rajnath Ram, energy advisor of the leading energy think tank NITI Aayog, indicated that India looks to propose a CCUS policy by the end of 2024.
The Institute welcomes the new momentum around CCS in India and looks forward to continuing to engage in insightful discussions and collaborating with local stakeholders to accelerate the deployment of this technology in India and beyond.