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IEF16 Ministerial

10-12 April 2018

New Delhi, India

The Government of India hosted 90+ delegations including 50 energy ministers, 30 CEOs, 12 heads of international organisations and 500+ guests at the 16th biennial International Energy Forum Ministerial Meeting (IEF16) in New Delhi on 10-12 April 2018 with the support of the People’s Republic of China and the Republic of Korea as co-hosts. The meeting was held under the theme: "The Future of Global Energy Security - Transition, Technology, Trade and Investment". Providing the opportunity for attendees to discuss relevant issues that currently affect global energy markets, the IEF Ministerial is the largest gathering of energy ministers in the world.

Meeting on the neutral global platform that the IEF provides to strengthen international cooperation on energy through dialogue, the IEF16 focused on how global shifts, transition policies and new technologies influence market stability and future investment and trade patterns in the energy sector. Dialogue among Ministers and industry leaders on how global shifts, new policies and technologies change investment and trade patterns and influence energy market security, facilitate orderly transitions, and accelerate the achievement of shared goals.

Watch IEF16 highlights

On behalf of the IEF16 host country, Shri Narendra Modi, Prime Minister of India inaugurated the IEF16 Ministerial Meeting. Prime Minister Modi shared his energy vision as comprising four pillars – energy access, energy efficiency, energy sustainability and energy security. He called for a mutually supportive relationship between producers and consumers. He also called for optimal use of the neutral platform of the IEF to build a global consensus on ‘responsible pricing’, that serves the mutual interests of both producers and consumers. H.E. Dharmendra Pradhan, Minister for Petroleum and Natural Gas and Minister for Skill Development and Entrepreneurship of India, HE Khalid Al Falih, Minister of Energy, Industry and Mineral Resources of the Kingdom of Saudi Arabia, and H.E. Sun Xiansheng, Secretary General of the International Energy Forum also addressed delegates at the Inaugural Session, setting the scene for the Forum’s discussions. 

Ministerial dialogue was structured in four thematic plenary sessions, and four parallel roundtables focussed on:

  • Global shifts: The Future of Global Energy Security – Finding New Balances
  • Sustainable and Inclusive Growth – Energy Access and Affordability
  • Oil and Gas Market Stability and Change – Investment in a New Era
  • Uptake of Clean Technologies: Disruption and Coexistence of New and Existing Technologies – The Way Ahead

Meeting at a time of uncertainty, dynamism and change, IEF16 ministers acknowledged that global energy security is taking on new meanings that have just as much to do with adaptability as energy access, affordability, and inclusive and sustainable growth. IEF16 ministers noted that their presence in New Delhi manifests that, through open dialogue, energy market stakeholders can move forward faster and farther when embracing shared value propositions that benefit all. Noting from contributions by both the International Energy Agency and the Organization of the Petroleum Exporting Countries that the fossil fuel sector shall continue to provide around three-quarters of energy demand in 2040, as projected in their main scenarios, IEF16 delegates focused dialogue on the mutual reinforcing role of fossil fuels and clean energy technologies, including renewables calling for reliable, and realistic transformations that all can afford, and rational responses to the global energy challenges we face together.

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Photo: Heads of Delegation at the IEF16.

Delegates took note of the contributions by the OPEC Fund for International Development (OFID), and the Gas Exporting Countries Forum (GECF), acknowledging that global agreements on shared goals, and energy access concluded under the aegis of the United Nations in 2015, are in the early phases of implementation and that despite progress, collective efforts must be stepped up to achieve universal energy access and alleviate energy poverty by 2030.

IEF16 delegates focussed on the limited volume of upstream oil and gas sector investments as a consequence of the downward price cycle, and the risks and opportunities that new unconventional production resilience brings to the stability of oil and gas markets globally. Ministers and industry leaders welcomed enhanced dialogue on the role of new and existing energy producers and innovative cooperative arrangements to collectively shoulder the responsibility of maintaining oil and gas market stability and ensure investment moves forward in a timely and cost-effective manner in both short and longer cycle oil and gas projects.

Delegates welcomed the rapid development of new energy technologies and the competitive disciplines a more diverse and vibrant market environment creates for the industry at large. To ensure successful energy sector transformations, IEF16 delegates acknowledged that more dialogue is needed on new policy and technology deployment to facilitate cost-effective transitions between new and existing technologies. Delegates recognised that failure to protect investments of existing assets in favour of new technologies will deter the effective mobilisation of capital in new projects as well. 

IEF16 delegates noted that global shifts in energy demand and supply patterns, as well as rapid technology advances alter world energy market dynamics and compel corresponding governance structures including the institutional set up of the IEF energy dialogue to respond to evolving producer-consumer relations. IEF16 delegates also acknowledged that as energy markets are governed by complexity, enhanced dialogue on probable energy pathways will improve market transparency and work to achieve shared goals together. They noted that institutional cooperation has gone from strength to strength to make different outlook projections more comparable, raise the energy dialogue to a higher level and welcomed sharpened focus on reducing differences in historical baseline data, improving fuel type classifications and the modernisation of country classifications.

IEF16 ministers, industry leaders, and heads of international organisations applauded the leadership of the government of India in taking the IEF energy dialogue forward as host of the 16th International Energy Forum Ministerial. Thanking the government of India for its generous hospitality, and the People’s Republic of China and the Republic of Korea for their support as co-hosts, IEF16 delegates took note of the productive outcomes of their dialogue reflected in the concluding statement (available for download) that H.E. Dharmendra Pradhan, Minister for Petroleum and Natural Gas, and Minister for Skill Development and Entrepreneurship presented on behalf of the government of India

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Photo: The Honourable Shri Narendra Modi opens the IEF16

Ministerial Videos

IEF16 Ministerial 2018

Inauguration Session

Welcoming and Scene Setting Remarks

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Photo: H.E. Sun Xiansheng, H.E. Shri Dharmendra Pradhan, The Honourable Shri Narendra Modi and H.E. Khalid Al Falih inaugurate the IEF16.

Plenary Session 1: Global Shifts: The Future of Global Energy Security - Finding New Balances

Opening Remarks and Introductions by Moderator

  • Sean Evers, Founder and Managing Partner, Gulf Intelligence

Scene Setting Remarks

Moderated Interactive Panel Discussion, Q&A

Panel Speakers (Ministers)

  • H.E. Bijan Namdar Zangeneh, Minister of Petroleum, Iran
  • H.E. Kosaburo Nishime, State Minister of Economy, Trade and Industry, Japan
  • H.E. Mohammed Bin Saleh Al Sada , Minister of Energy and Industry, Qatar
  • H.E. Pavel Sorokin, Deputy Minister of Energy, Russian Federation

Panel Speakers (CEOs)

  • Wang Yilin, Chairman, China National Petroleum Corporation (CNPC)
  • B.C. Tripathi, Chairman and Managing Director, Gail India
  • Sanjiv Singh, Chairman, Indian Oil Corporation
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Photo: The Honourable Shri Narendra Modi, Prime Minister of India, welcomes the heads of delegation.

Plenary Session 2: Sustainable and Inclusive Growth - Energy Access and Affordability

Opening Remarks and Introductions by Moderator

  • Fereidun Fesharaki, Founder and Chairman, FACTS Global Energy (FGE)

Scene Setting Remarks

Moderated Interactive Panel Discussion, Q&A

Panel Speakers (Ministers)

  • H.E. Mustapha Guitouni, Minister for Energy, Algeria
  • H.E. Bir Bikram Tawfiq e Elahi Chowdhury, Adviser (Minister) to Hon'ble Prime Minister for Power, Energy and Mineral Resources Affairs, Bangladesh
  • H.E. Tarek El Molla, Minister of Petroleum and Mineral Resources, Egypt
  • H.E. Dharmendra Pradhan, Minister for Petroleum and Natural Gas and Minister for Skill Development and Entrepreneurship, India
  • H.E. Kazuyuki Nakane, State Minister for Foreign Affairs, Japan
  • Phillip Jennings, Associate Deputy Minister of Natural Resources, Canada
  • Fatima Alfoora Alshamsi, Assistant Undersecretary for Electricity and Future Energy Affairs, Ministry of Energy and Industry, United Arab Emirates

Panel Speakers (CEOs)

  • Lorenzo Simonelli, Chairman, President and Chief Executive Officer, Baker Hughes GE
  • D. Rajkumar, Chairman and Managing Director, Bharat Petroleum Corporation Limited
  • Nizar Al Adsani, Deputy Chairman and Chief Executive Officer, Kuwait Petroleum Company
  • Patrick Pouyanné, Chairman and Chief Executive Officer, Total
  • Emma Cochrane, Vice President, LNG, ExxonMobil Gas & Power Company
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Parallel Roundtable 1: Refining, and Petrochemical Sector - New Growth Potentials and Rationalisation

Opening Remarks and Introductions by Moderator

  • Ambassador Arne Walther, former IEF Secretary General, former Norwegian Ambassador to India, Austria and Japan

Scene Setting Remarks

Moderated Presentations by Panelists

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Photo: Kate Dourian, Programme Officer, Middle East and North Africa, Directorate of Global Energy Relations, IEA

Parallel Roundtable 2: Fiscal Regimes and Legal Reforms to Attract Investment in the Energy Sector

Opening Remarks and Introductions by Moderator

  • H.E. Aldo Flores Quiroga, Deputy Secretary of Hydrocarbons, Ministry of Energy, Mexico

Scene Setting Remarks

Moderated Presentations by Panelists

  • H.E. Saleh A. Al Kharabsheh, Minister of Energy & Mineral Resources, Jordan
  • H.E. Suhail Mohamed Al Mazrouei, Minister of Energy and Industry, President of the OPEC Conference, United Arab Emirates
  • Phillip Jennings, Associate Deputy Minister of Natural Resources, Canada
  • Asma Muttawa, General Legal Counsel, OPEC
  • Narendra Kumar Verma, ONGC Videsh
  • Utpal Bora, Chairman and Managing Director, Oil India Limited
  • Carole Nakhle, Director, Crystol Energy, Nonresident Scholar, Carnegie Middle East Center
  • Qiang Liu, Director of Energy Division, Institute of Quantitative and Technical Economics, Chinese Academy of Social Sciences (CASS)
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Photo: H.E. Aldo Flores Quiroga, Deputy Secretary of Hydrocarbons, Ministry of Energy, Mexico

Parallel Roundtable 3: Energy Sector Digitalisation - Benefits and Challenges

Opening Remarks and Introductions by Moderator

  • Ashok Belani, Executive Vice President Technology, Schlumberger

Scene Setting Remarks

Moderated Presentations by Panelists

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Photo: Adedapo Odulaja, Head, Data Services Department, OPEC

Parallel Roundtable 4: Human Resources: Attracting Talent to a Vibrant Industry - Integrating New Generations and Technologies

Opening Remarks and Introductions by Moderator

  • Amos Hochstein, Senior Vice President, Marketing, Tellurian

Scene Setting Remarks

  • Pierce Riemer, Director General, World Petroleum Council

Moderated Presentations by Panelists

Plenary Session 3: Oil & Gas Market Stability and Change - Investment in a New Era

Scene Setting Remarks and Introductions by Moderator

  • Christof Rühl, Global Head of Research, Abu Dhabi Investment Authority (ADIA)

Moderated Interactive Panel Discussion, Q&A

Panel Speakers (Ministers)

  • H.E. Saadeldin Hussein Elbushra Abd Elmagid, State Minister, Sudan
  • H.E. Suhail Mohamed Al Mazrouei, Minister of Energy and Industry, United Arab Emirates, President of the OPEC Conference
  • H.E. Angel Gonzalez, Vice Minister for Hydrocarbons, Venezuela
  • H.E. Ingvil Smines Tybring-Gjedde, Deputy Minister of Petroleum and Energy, Norway

Panel Speakers (CEOs)

  • Prabhat Singh, Chief Executive Officer, Petronet LNG Limited (PLL)
  • Eelco Hoekstra, Chief Executive Officer, Royal Vopak
  • DK Sarraf, Chairman, Petroleum and Natural Gas Regulatory Board
  • PMS Prasad, Director, Reliance Industries
  • Amos Hochstein, Senior Vice President, Tellurian

IEF Knowledge Partner

Plenary Session 4: Uptake of Clean Technologies: Disruption and Coexistence of New and Existing Technologies - The Way Ahead

Scene Setting Remarks and Introductions by Moderator

  • Kamel Ben Naceur, Chief Economist, Abu Dhabi National Oil Company (ADNOC), former Minister of Energy, Tunisia

Moderated Interactive Panel Discussion, Q&A

Panel Speakers (Ministers)

  • H.E. Aziz Rabbah, Minister of Energy, Mines, and Sustainable Development, Morocco
  • H.E. Siri Jirapongphan, Minister of Energy, Thailand
  • H.E. Inho Lee, Vice Minister of Trade, Industry and Energy, Korea
  • H.E. Aldo Flores Quiroga, Deputy Secretary of Energy, Mexico

Panel Speakers (CEOs)

  • Ashish Bhandari, President, India, Baker Hughes GE
  • J.C. Nakra, Chairman & Managing Director, Engineers India Limited
  • Ashok Belani, Executive Vice President, Technology, Schlumberger
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Photo: H.E. Mohammad Sanusi Barkindo, Secretary General, Organization of the Petroleum Exporting Countries (OPEC)

Concluding Session

Opening Remarks

Special Address: Argentinian - G20 Presidency

  • Marcos Pourteau, Undersecretary of Hydrocarbons, Ministry of Energy and Mining, Argentina

Concluding Statement

Valedictory Speech

Announcement of the host and co-host countries of IEF17 Message by/on behalf of the host and co-host, respectively, of the IEF17 in 2020

  • H.E. Li Fanrong, Deputy Administrator, National Energy Administration, China

Previous IEF Ministerial Meetings