India has reactivated its association status with the world energy body International Energy Association and said both will work in the areas of mutual interests, including capacity building to meet supply side disruptions.
Minister of State for Petroleum and Natural Gas Dharmendra Pradhan met Dr Fatih Birol, Executive Director of IEA on Thursday jointly with Minister of State for Power, Coal & New and Renewable Energy and Mines Piyush Goyal. Dr Birol is visiting India to jointly announce the Activation of ‘Association Status’ of India with IEA.
During the meeting, Pradhan welcomed the elevation of India’s relationship with IEA from Partnership Status (2013) to Association Status and vowed to work towards balancing the global Energy Dynamics reflecting today’s global realities.
India and IEA have an MoU since 2011 under which both are working on capacity building to respond to an oil emergency situation. With the Association Status in place, both India and IEA will work in the areas of mutual interests pertaining to Oil and Gas sector, including capacity building to meet supply side disruptions.
IEA is a Paris based autonomous organisation established in 1974 to ensure reliable, affordable and clean energy for its 29 member countries by coordinating collective response to major disruptions in oil supply through release of oil stocks into the global markets.