Second World Energy Policy Summit

The Secretary General delivered the prime address at the Second World Energy Policy Summit in New Delhi, where he also participated in five panels covering various aspects of global oil and gas markets. He explained how the IEF is working to facilitate a better understanding of oil-price volatility and energy outlooks, noting data transparency is an important tool to address both issues. As some panellists and the public espoused the notion of energy independence, he made a forceful call for acknowledging, managing, and supporting energy interdependence instead of wishing it away. Not one of the 87 members of the IEF, he said, can be seen as energy independent. All of them rely on the global market and its complex network of suppliers and consumers through the complete energy chain to further their energy security. Suppliers need consumers and vice-versa. No country or company has all the expertise, technology or resources to solve all of its energy challenges on its own.  Interdependence, he emphasized, adds flexibility to the energy systems of many countries, making them more robust to disruptions in their local energy supply sources.

While in Delhi, he also met with the President of India’s Oil and Natural Gas Corporation Ltd. (ONGC) to discuss plans for the Third NOC-IOC Forum – which will be held in Delhi and organised by the IEF, hosted by ONGC and co-hosted by Shell.

Previous World Energy Summit

• First World Energy Policy Summit
  6-7 September 2011