Union Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan said that the inevitable shift in global energy consumption to Asia is a reality. Pradhan also noted that India has to improve availability of energy to over 1.3 billion people, whose per capita energy consumption is lower than the global average. Now, India is the third-largest energy consumer in the world, and its energy demand is growing faster than all major economies of the world. India's share of total global primary energy demand is set to double to 11% by 2040.
Addressing the opening session of the 8th Asian Ministerial Energy Roundtable in Abu Dhabi today, he said that we now need to ensure that this change is rooted in Energy Justice, which was articulated by Prime Minister of India Narendra Modi as most important component of Energy Vision of India. Pradhan said that the Emerging Asia will be driving the world economic growth in the coming 20 years. In the global context, developing economies will drive 80% of the incremental global growth, with India and China accounting for more than half of it.
He noted that energy access, higher standard of living and improved prosperity in developing countries will primarily drive the energy demand. It is important for the low income, low per capital energy consuming countries to have access to technology and capital when it comes to energy efficiency and cleantech. That will provide better energy security than short term interventions in fossil fuel supply and price.
He said that due to poor and imbalanced energy infrastructure, 400 million people in Asian region have no access to electricity, and rural residents have no access to clean electricity. Therefore, providing safe, stable, affordable and efficient energy has become an important task for governments of all countries.
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