Puri discussed the reduction in crude oil production by OPEC and predicted that India would account for 25% of global energy demand in the next 20 years.
Union Minister Hardeep Singh Puri on Monday said achieving the net zero emissions target by 2070 is “little too long-term”, indicating that the country may achieve the milestone ahead of the deadline.
Under the net zero target, India will completely switch to renewables by 2070.
Addressing the 26th Energy Technology Meet, Puri said: “Our net zero target by 2070 is a little too long-term.”
He is of the view that India is moving fast towards energy transition and stated that for GAIL, Bharat Petroleum Corporation Limited (BPCL) and others the energy transition target is 2035 to 2040.
He explained that energy transition in India will first be from fossil-based to cleaner fuels and further to renewables.
He also noted that global uncertainty is a dynamic driver for energy transition.
On the Israel-Palestine conflict, he said such crises make the energy transition faster towards biofuel, renewables etc.
Israel came under attack by Hamas militants on Saturday and since then, both sides are engaged in fighting in which scores of people have died.
Puri also talked about the cut in production of crude oil by the Organization of the Petroleum Exporting Countries (OPEC).
He noted that in the next two decades, 25 per cent of world energy demand will come from India.
Source : Pti
