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India, US stress on ensuring reliable energy supplies to ensure balanced energy markets


New Delhi: The United States-India Strategic Clean Energy Partnership Secretary on Friday emphasized on securing reliable energy supplies to ensure a balanced energy market.

Union Minister for Oil, Gas and Natural Gas Hardeep Singh Puri and US Secretary of Energy Jennifer Granholm held a ministerial dialogue and reviewed progress across the entire energy partnership .

“They appreciate the tremendous increase in bilateral energy trade achieved over the past few years. They also welcomed the strengthening of clean energy cooperation between the stakeholders of both countries, which is facilitating an expansion of clean energy investment, including in emerging technologies. statement from petroleum and natural gas said.

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“The ministers also emphasized the importance of ensuring reliable energy supplies to ensure a balanced energy market, including India’s support for the US initiative to release crude oil from strategic oil reserves, and the importance of diversifying to clean energy sources”.

The discussions are significant as the global energy market is going through a volatile period amid the Russia-Ukraine conflict and India, along with other countries, is seeking to diversify its sources of energy. their energy along with the promotion of renewable energy.

During the meetings, the two ministers reviewed progress on the entire partnership in the energy sector. They appreciate the tremendous increase in bilateral energy trade achieved over the past few years. They also welcomed the strengthening of clean energy cooperation between the stakeholders of both countries, which is facilitating an expanded clean energy investment, including in emerging technologies. father said.

Furthermore, the ministers emphasized that cooperation on climate and clean energy should promote energy access, affordability and equity, while supporting sustainable economic growth and energy transition. quantity. They also recognize that the nation’s ambitious clean energy and climate goals require coordinated action and implementation at all levels of government to ensure viability and sustainability. capacity building and exchange of best practices that include all stakeholders are also highlighted as critical components for achieving climate and energy ambitions, the statement said. clean quality of countries.

They also discussed progress in continuing efforts to promote emerging fuels and technologies as well as electrification and decarbonisation in end-use sectors.

Discussions covered areas of difficulty to reduce and ministers were informed on various initiatives, including joint research and development on smart grids and energy storage, and new collaborations. on carbon capture, use, and storage (CCUS) technologies, and the potential for collaborative exploration of other new technologies under the US-India Partnership to Advance-Clean Energy Research (PACE). -R).

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