Financial Daily from THE HINDU group of publications
Tuesday, Apr 25, 2006
Financial Daily from THE HINDU group of publications Tuesday, Apr 25, 2006 |
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Industry & Economy
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Events `Producers, consumers tie-up vital for energy security' Our Bureau
New Delhi , April 24 The Minister for Petroleum and Natural Gas, Mr Murli Deora, has called for partnership between energy consumers and producers to work together towards a common goal of energy security. Addressing the high-level Ministerial Conference of 10th International Energy Forum at Doha, Qatar, on the subject of `Facing the challenges of new era', Mr Deora was quoted in an official press release as saying that capacity constraints across the entire hydro-carbon supply chain was causing a major concern for global supply.
Other sources
Mr Deora said technology improvements were helping to discover other sources of energy. "Significant amount of resources are being invested across the globe in alternate energy sources. In the next quarter century, hydrogen is widely expected to be an important source of energy. There is a new realism about nuclear energy: its ability to deliver clean carbonless power, safely, reliably and on a massive scale," the press release said.
Oil price rise
Referring to the sharp increase in oil prices from around $12 per barrel to $75 per barrel in the past 6-7 years, Mr Deora said the growth in energy demand would continue as the general growth momentumwould continue to be maintained in the foreseeable future. Calling for investment for the future, Mr Deora emphasised that it was time for innovative thinking to address issues on both the energy supply side as well as bringing efficiency on demand side. He said oil and gas would continue to be an important economic driver in the next 25 years.
More Stories on : Events | Petroleum
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