IEW 2024 emerges as prominent global energy conclave: Petroleum Minister Shri Hardeep S Puri

Feb 09,2024

At the closing ceremony of India Energy Week (IEW), 2024 in Goa, Union Minister of Petroleum & Natural Gas and Housing & Urban Affairs Shri Hardeep Singh Puri lauded the immensely successful organisation of the global energy conclave. He observed that IEW 2024 has built on the inaugural session last year, with 30% more exhibitioners showcasing their products and services in an area spanning over 18,000 square metres.

The Union Minister also announced that the third edition IEW in 2025 will be held between February 11th and 14th at Yashobhoomi (India International Convention and Expo Centre), India’s largest convention and exhibition centre, located in Dwarka, New Delhi.

Further, India Energy Week 2026 will come back to Goa and will be held at IPSHEM-ONGC Training Institute located in the southern part of the state.

Shri Puri added that the success of the four-day event was exemplified by the strong and robust participation from the CEOs and board members, representing not only the largest oil, gas companies but also from biofuel and renewable technology companies.

“It reflects that IEW has come to acquire a prominent place amongst available platforms where if you go and spend four days, you can meet a wide cross section of people, those whom you may otherwise take much longer to interact with if they are placed in different global geographies,” the Union Minister said.

Further, Shri Puri said that the exhibitions at India Energy Week, 2024 displayed technological innovations of the highest order, which impressed him deeply.

“Apart from country-specific exhibition stalls, and those belonging to bigger companies, even individual entrepreneurs showcased great effort in achieving technological innovation of the highest quality.” Shri Puri added.

The Union Minister highlighted that while India will account for 25% of incremental global oil demand over the next two decades, the growth will not be restricted to just exploration and production activities but will also extend to biofuels.

“We couldn't get more than 1.5% biofuel blending up to 2014. Today we've got 12% blending in the entire country, and we're going to take it to 20%. So I think that the best is yet to come,” the Union Minister added.

Moreover, Shri Puri said that ethanol, biofuels, compressed biogas and green hydrogen are poised to see immense growth in India.

“I think the world is just beginning to see that green hydrogen may not be as distant a story as was initially thought. And at least the Indian estimates of 5 million metric tons per annum by 2030 is very much an underestimation,” he added.

Speaking alongside the Union Minister, Pankaj Jain, Secretary, Ministry of Petroleum & Natural Gas, remarked that India has changed from just being one of the markets of the world for global energy companies to a country where global entities have established back offices, employing thousands of experts, and manufacturing facilities.

Start-up Awards

The Union Minister and Secretary also awarded the Energy Startup Challenge at the closing ceremony of IEW, 2024. The first prize went to Iron Technologies, while Vasitara Private Limited bagged the runner-up trophy. The third place was awarded to Aloe Ecell.

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