Energy Diplomacy

India’s energy diplomacy is focused towards sustaining and promoting energy engagements with hydrocarbon rich countries and prominent international organizations dealing with energy matters in order to secure India’s burgeoning energy needs.

Currently we are witnessing challenges in terms of extreme price volatility, supply threats and uncertainty on account of geo-political disruptions. Such high degree of volatility wreaked havoc on energy importers and tested their limits of energy and food security. India, as a leading energy consumer and importer, took the leadership role on global stage and became leading voice of the group of energy importing nations to nudge energy exporting groups towards a sustainable, balanced and responsible pricing.

Energy collaboration has remained an important facet of bilateral engagements, both with India’s traditional energy partners and with newly emerging energy suppliers. Our relationship with many of our suppliers like UAE, USA and Russia has transformed into a strategic partnership for mutual investments.

The following salient features of Energy Diplomacy merit mentioning:

• Supporting Indian refiners for securing uninterrupted and timely supply of crude oil,
• Geographical diversification and widening of oil & gas sourcing including the acquisition of E&P assets by Indian PSUs,
• Launching initiatives to promote ‘Neighbourhood First Policy’ in the oil and gas sector by building energy corridors and energy bridges,
• Re-negotiating long term Oil and LNG arrangements to reflect the changing energy prices.
• Developing close linkages with international organizations and institutionalizing dialogues,
• Leveraging India’s relationship and huge hydrocarbon needs with multilateral energy organizations such as OPEC, IEF & IEA, where India’s voice can make a difference towards balancing the needs of producer and consumer nations.