The Aryavarth Express
Agency (New Delhi): The first International Conference of Petroleum and Natural Gas Regulators, organized by the Petroleum and Natural Gas Regulatory Board (PNGRB), took place between 5-8th February 2024 during the India Energy Week (IEW) 2024 in Goa. This conference brought together major energy regulatory authorities from South and Southeast Asian nations including Bangladesh, Indonesia, Malaysia, Sri Lanka, and Thailand, along with international industry leaders. S&P Global Commodity Insights collaborated as the knowledge partner for the event.
The conference’s primary theme, “Navigating Pathways for Natural Gas Development,” focused on the critical role of natural gas in achieving rapid and substantial emission reductions, essential for meeting the climate goals of emerging and developing countries. Discussions across five plenary sessions covered a wide range of topics, from geopolitical uncertainties affecting energy security, to rapid infrastructure development, public-private partnerships, and institutional growth. A special roundtable of international regulators provided a platform for discussing best practices and strategies for cross-border collaboration to enhance energy security and governance.
Shri Hardeep Singh Puri, Minister of Petroleum and Natural Gas and Housing and Urban Affairs, reiterated the Prime Minister’s vision to increase the share of natural gas in India’s energy mix from 6% to 15%. He commended PNGRB for this initiative and suggested that an international regulatory conclave of oil and gas regulators become a regular feature of the IEW. Dr. Anil Kumar Jain, Chairperson of PNGRB, highlighted the importance of regional collaboration among South and Southeast Asian countries for sharing knowledge and developing effective regulatory frameworks for natural gas.
Speakers at the conference emphasized the growing need for natural gas in the energy mix and its role as a transitional fuel towards net-zero emissions. They pointed out the geopolitical uncertainties impacting energy supply in developing countries and stressed the need for a collective approach from the global south to secure energy supplies. The discussions also shed light on India’s regulatory and infrastructure development in natural gas, especially in infrastructure development and city gas distribution, to ensure reliable and affordable clean energy. Industry leaders advocated for a regional clean energy agenda between South and Southeast Asian nations, suggesting interconnected gas and electricity grids.
The International Conference of Petroleum and Natural Gas Regulators served as a crucial platform for stakeholders to network, share knowledge, and build partnerships, shaping the future of natural gas development.