Business Wire India
As the U.S.-India Strategic Energy Partnership Bilateral takes place this week in India, the U.S.-India Strategic Partnership Forum (USISPF) arranged a Delegation of high-level executives in Delhi to meet with Minister of Petroleum and Natural Gas Dhamendra Pradhan, U.S. Department of Energy (DOE) Secretary Rick Perry, along with other prominent government and industry stakeholders.
On Monday, USISPF hosted a roundtable with DOE Secretary Rick Perry, DOE Undersecretary Mark Menezes, and officials from the Ministry of Petroleum and Natural Gas, to discuss priorities for the bilateral and the launch of a new Indo-U.S. Natural Gas Task Force. The USISPF delegation, formed of senior U.S. energy executives from Air Products, ExxonMobil, GE, 8minutenergy, Emerson, First Solar, AES, Dow, Cairn Energy, Shell, Honeywell, and others, are keen to discuss investment plans and issues in the oil and gas, coal, renewable energy sectors.
USISPF also hosted the Honorable Minister of Petroleum and Natural Gas, Dharmendra Pradhan. Minister Pradhan stated the need for a stronger energy partnership to cater to the needs of both countries. He also stressed on the need for technological advancements in the energy sector to meet the needs of the citizens. During his discussion with USISPF’s Energy and infrastructure delegation, Minister Pradhan welcomed companies and organizations to invest in India and explore opportunities under new and renewable energy and the gas sector.
Richard Boocock, the President for Air Products’ Industrial Gases—Middle East, India, Egypt, and Turkey, chaired the USISPF Delegation, saying, “It was an honor to participate in the roundtable discussions earlier today on the business climate for energy firms in India with the U.S. Department of Energy Secretary Perry. These discussions are instrumental in determining how U.S. firms can further support India’s energy sector and future economic growth. Since we are already a long-term investor in India, Air Products is keen to share its technology, know-how and investment capacity, which can bring great value to the U.S. and India alike.”
Recent investments made by Air Products include the expansion of our Kochi Industrial Gas Complex to support the growth of BPCL’s Kochi Refinery. Projects such as this one demonstrate how U.S. companies are applying U.S. technology and know-how as a key enabler to the ‘Make in India’ initiative. According to Mr. Boocock, Air Products has plans to grow their business with an increased focus on providing technology and equipment for air separation, hydrogen generation and associated technologies for natural gas liquefaction and industrial gas applications. “These investments represent a commitment to growing our presence and strengthening relationships, as well as infrastructure, in the region,” said Mr. Boocock.
USISPF believes natural gas and renewable energy integration is a key area for enhanced strategic cooperation between the U.S. and India and will support the Indian government's aspiration to boost natural gas presence from 6.5% to 15%. Natural gas and renewable integration in India presents a new opportunity to grow the share of gas for power generation and is a potential market for U.S. gas exports, related investments, trade and technical expertise. "Recently, the U.S. has become a new long-term source of gas supplies to India. Further developing gas markets in India will enhance the viability of existing long-term contracts for U.S. gas in India and create significant business opportunities for U.S. energy companies," said Nolty Theriot, USISPF Vice President of Policy & Advocacy.
India's emerging gas story is deeply connected with its critical economic transition in mobility, urbanization and reliability in an increasing market-based system. India will account for one third of the growth in global energy demand in the coming decades and developing the country's natural gas markets will aid India's ability to meet the demands of a growing middle class in a modernizing economy.