India invited to global energy agency meet

January 14th, 2009 - 5:06 pm ICT by IANS  

New Delhi, Jan 14 (IANS) India has been invited to the ministerial meeting of the International Energy Agency (IEA) in October in Paris, the organisation’s deputy executive director Richard Jones said here Wednesday.”India has not asked to become a member. But we have very close working relation with India and we are very pleased how those relations are evolving. We have invited the (Indian) minister of power to the annual ministerial meeting in Paris in October,” Jones told reporters on the sidelines of Petrotech 2009, an international conference on oil and gas being held here.

“The normal process is that they (countries) join OECD first and then IEA. But we work with non-OECD countries closely,” he said.

India is not a member of the 30-nation OECD or the Organisation for Economic Cooperation and Development that aims at helping governments foster prosperity and fight poverty through economic growth and financial stability.

IEA is a forum for countries committed to advancing global energy security, policy and technology through cooperation. Both OECD and IEA are based in Paris.

“Cooperation with India is increasing, especially in energy efficiency. We are very encouraged by what we are hearing from India, which is making progress in energy efficiency and can become a model to the world,” Jones said.

“I was impressed with a number of initiatives, particularly branding initiative, Energy Star Programme where they label appliances, so that consumers can see which brands are more efficient and cheaper to operate,” he added.

Maintaining that investment in energy technology or renewable technology would be an important engine of growth in the next decade, Jones said as economies of the world begin to recover, there will not be enough fuel.

“Prices will go up as it did last summer and it will choke off the recovery. We need to find a way to insulate the investments from the fluctuation in the prices and that’s not easy to do,” he said.

“OPEC (Oil producing and Exporting Countries) should not be tempted to make prices go up as economy recovers, as it will choke off the recovery. Price volatility will continue, the era of cheap oil will be over.”

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