Last month I came across an energy forecastprepared by an agency, according to whichIndia will be the key driver of global energy demand in the next twenty-five years.
India’s energy consumptionwill grow by four point two percent a year for the next twenty-five years.This is fastestamong major world economies.
The report also mentions that Gas demand will triple by 2040.The number of electric vehicles will rise to three hundred and twenty million by 2030, up from three million today.
We are entering an era of energy abundance. However, one point two billion people still do not have access to electricity.Many more do not have accessto clean cooking fuel.
We must ensure that this situation is not exploitedto the detriment of the under-privileged.People must have universal access to clean, affordable, sustainable and equitablesupply of energy.
We need to move to responsible pricing,which balances the interests of both the producer and consumer. We also need to move to transparent and flexiblemarketsfor both oil and gas.Only then can we serve the energy needs of humanityin an optimal manner.
Our Government believesin an integrated approach to energy planning. And,our energy agenda in Indiais inclusive,market based,and climate-sensitive. This,we believe,would go a long waytowards achieving three energy related componentsof the United Nations Sustainable Development Agenda.Namely:
Universal access to modern energy by 2030;
Urgent action to tackle climate change – in line with the Paris agreement;
Measures to improve air quality;