India Energy Week 2024 emerges as prominent global conclave: Hardeep Singh Puri

At the closing ceremony of the India Energy Week 2024 in Goa on February 9, the immensely profitable organisation of the occasion was praised by Hardeep Singh Puri, Union Minister of Petroleum and Natural Gas and Housing and Urban Affairs.

He noticed that IEW 2024 had constructed on the inaugural session of 2023, with 30 per cent extra exhibitors showcasing their services in an space spanning over 18,000 sq. metres.

The minister additionally introduced that IEW 2025 could be held between February 11 and 14 at Yashobhoomi (India International Convention and Expo Centre), India’s largest conference and exhibition centre, situated in Dwarka, New Delhi. IEW 2026 will come again to Goa and will probably be held at IPSHEM-ONGC Training Institute, situated within the southern a part of the state.

Puri added that the success of the four-day occasion was exemplified by the sturdy and strong participation by CEOs and board members, representing not solely the biggest oil and fuel corporations but additionally biofuel and renewable know-how corporations.

“It displays that IEW has come to amass a prominent place amongst out there platforms the place for those who go and spend 4 days, you may meet a large cross-section of individuals, these whom chances are you’ll in any other case take for much longer to work together with, if they’re positioned in several global geographies,” the minister mentioned.

He additionally mentioned that the exhibitions at IEW 2024 displayed technological improvements that impressed him deeply. “Apart from country-specific exhibition stalls, and people belonging to greater corporations, even particular person entrepreneurs showcased nice effort in attaining technological innovation of the very best high quality,” the minister noticed.

The Union minister highlighted that whereas India would account for 25 per cent of incremental global oil demand over the subsequent 20 years, the expansion wouldn’t be restricted to simply exploration and manufacturing actions however would additionally lengthen to biofuels.

We couldn’t get greater than 1.5 per cent biofuel mixing as much as 2014. Today, we’ve obtained 12 per cent mixing in the complete nation, and we’re going to take it to twenty per cent. So I believe that the most effective is but to return.

Hardeep Singh Puri, Union Minister of Petroleum and Natural Gas

Puri mentioned that ethanol, biofuels, compressed biogas, and inexperienced hydrogen had been poised to see large progress in India. “I believe the world is simply starting to see that inexperienced hydrogen is probably not as distant a narrative as was initially thought. And no less than, the Indian estimates of 5 million metric tonnes every year by 2030 may be very a lot an underestimation,” he added.

Speaking alongside the Union minister, Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas, remarked that India had modified from being simply one of many markets of the world for global vitality corporations to a rustic the place global entities had established again workplaces, using hundreds of consultants and establishing manufacturing services.

Start-up Awards

The minister and secretary awarded winners of the Energy Startup Challenge on the closing ceremony of IEW 2024.

The first prize went to Iron Technologies, whereas Vasitara Private Limited bagged the runner-up trophy. The third place was awarded to Aloe Ecell.

The two honourable mentions went to Biofuels Junction and VDT Pipeline Integrity Solutions.