The 16th biennial International Energy Forum Ministerial Meeting (IEF16) held in New Delhi over April 10-12 provided an efficient platform for industry experts to discuss relevant issues that currently affect global energy markets. The IEF Ministerial, the largest gathering of energy ministers in the world, was held with the People’s Republic of China and the Republic of Korea as co-hosts. At the event, the Indian Government hosted more than 90 delegations, including 50 energy ministers, 30 CEOs, 12 heads of international organisations and over 500 guests. The meeting was held under the theme: “The Future of Global Energy Security – Transition, Technology, Trade and Investment” to boost improved cooperation.
While inaugurating IEF16, Prime Minister Narendra Modi shared his vision for energy as comprising four pillars – energy access, energy efficiency, energy sustainability and energy security. He called for a sustainable relationship between energy producers and consumers, especially through neutral global platforms such as the IEF to build a global consensus on “responsible pricing”. IEF has aided multilateral dialogue to drive international cooperation in energy policy, technology, infrastructure, innovation and investment. The 16th edition of the IEF ministerial focused on how global shifts, transition policies and new technologies influence market stability and future investment and trade patterns in the energy sector.
Dialogue among Ministers and industry leaders on how global shifts, new policies and technologies change investment and trade patterns and influence energy market security, facilitate orderly transitions, and accelerate the achievement of shared goals. The ministerial dialogue was structured in four thematic plenary sessions, and four parallel roundtables focussed on:
Meeting at a time of uncertainty, dynamism and change, IEF16 ministers acknowledged that global energy security is taking on new meanings that have just as much to do with adaptability as energy access, affordability, and inclusive and sustainable growth. The meeting also sought to connect the important role played by conventional fuel markets led by the likes of International Energy Agency and the Organization of the Petroleum Exporting Countries and the fast expanding renewable energy market. IEF16 delegates focused dialogue on the mutual reinforcing role of fossil fuels and clean energy technologies, including renewable calling for reliable, and realistic transformations that all can afford.