Minister of Petroleum and Natural Gas
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The International Energy Agency (IEA) is an autonomous organization which was set up in response to the 1973-74 oil crisis. The oil crisis was the result of an embargo imposed on the US and other developed countries by OPEC in retaliation for the US decision to support Israel during the Arab-Israel war.
The IEA is made up of 30 member countries (OECD countries) and is an important part of global dialogue on energy, providing research, data/statistics, analysis and recommendations on the global energy sector. The IEA works to ensure reliable, affordable and clean energy for itsmember countries and beyond. The IEA is guided by four main areas of focus: (i) energy security, (ii) economic development, (iii) environmental awareness and (iv) engagement worldwide. IEA is responsible towards coordinating collective response to major disruptions in oil supply through release of oil stocks into the global markets
The IEA conducted “In Depth Review” of India’s energy policy which was launched on 10th January 2020. MoPNG had been closely engaged with IEA in preparing the report.Currently, IEA is assisting India in various areas including India’s Emergency response assessment, best practices in building SPRs, and increasing share of natural gas in India’s energy mix.
On 1 July 2020 the International Energy Agency jointly with the Ministry of Petroleum and Natural Gas of India convened a high-level virtual workshop entitled Building a Natural Gas-Based Economy in India Amidst a Changing Global Gas Market Landscape. The event was the first in a series of IEA organised workshops on Building a Gas-Based Economy in India intended to support the Indian Government’s efforts to increase the share of natural gas in the energy mix as well as to inform the Government’s work on establishing a natural gas trading hub in India.