PM Modi’s meet with oil bosses to focus on India’s energy security, transition investments

NEW DELHI: Prime Minister Narendra Modi will next week meet chief executives of top Indian and foreign oil companies, likely focusing on geopolitical supply threats amid the changing map of global energy flows and investments in India’s energy transition.

Oil minister Hardeep Singh Puri on Monday said the meeting will happen on the sidelines of the second India Energy Week, a showcase for India’s importance in the global energy market and leadership in transition. The event will be held in Goa from February 6 to 9.

In addition, there will also be an India-US investment roundtable.

This year's conference comes against the backdrop of the continuing Russia-Ukraine war and the fresh conflicts triggered by attacks on ships sailing through the Red Sea by Houthi rebels,leading to elevated ocean freight.

Puri said energy ministers from 17 countries, over 35,000 attendees and more than 900 exhibitors are expected to attend the IEW. "I am pleased to share that this time we will have dedicated 6 country pavilions, namely Canada, Germany Netherlands, Russia, UK and USA."

"India today on the energy front presents the picture of confidence, of positive growth, of solutions in many areas. IEW is a golden opportunity for all these related developments on the energy front to be showcased and provide the platform for further development and growth in the energy sector," Puri told reporters.

Asked about the Red Sea crisis which has so far not disrupted oil supplies to India but has sent freight charges higher as ships reroute to avoid the conflict zone, he said the the conflict is a matter of concern but not a cause of worry for the country as yet.

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