PM Narendra Modi inaugurates PETROTECH-2019

• Prime Minister Narendra Modi said there is a need to move towards responsible pricing of Oil and Gas to balance the interests of both the producer and the consumer.

• He was inaugurating the 13th International Oil and Gas Conference – PETROTECH-2019 in Greater Noida.

Vital Highlights

• The Prime Minister stressed on the need to move towards transparent and flexible markets for oil and gas to serve energy needs in an optimal manner.

• The Prime Minister said, winds of change are evident in the global energy arena. He said supply, sources and consumption of energy patterns are changing.

• Mr Modi said, there is a shift in energy consumption from West to East.

• He said, there are signs of convergence between cheaper renewable energy, technologies and digital applications.

• He said, it may expedite the achievement of sustainable development goals. Prime Minister expressed happiness that nations are coming together to tackle climate change.

• He said, the petrotech has served as a platform to discuss the challenges the world is facing in the energy sector.

• Prime Minister said, energy is a key driver of socio-economic growth and energy justice is a top priority for India.

• A Blue Flame Revolution is under-way in the country and LPG connections have been given to over 64 million house-holds in just three years under Ujjwala Scheme.

• Speaking on the occasion, Minister of Petroleum and Natural Gas Dharmendra Pradhan said, India has made tremendous strides in providing energy justice.

• He said, UJJWALA scheme and expansion of City Gas Distribution Network have provided clean cooking gas to people.

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Mains Paper 2: Governance

Prelims level: PETROTECH-2019

Mains level: Highlights of this scheme

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