India will host the 16thInternational energy Forum (IEF) Ministerial Meeting from 10-12th April 2018 in New Delhi. Prime Minister Shri Narendra Modi will formally inaugurate the Meeting on 11th April 2018.Petroleum Ministers from 42 countries would attend the Meeting.The biennial IEF Ministerial Meetings are the world’s largest gathering of Energy Ministers who engage in a dialogue on global energy issues. The IEF Ministerial meetings are informal dialogues, at both the political and technical levels, aimed to improve policy and investment decisions, and through increased knowledge and experience sharing. The Minister for External Affairs SmtSushmaSwaraj will deliver the valedictory speech at the Concluding session on 12th April 2018.
Global energy Security, sustainable and inclusive growth, energy access and affordability, fiscal regimes and legal reforms to attract investments in the Energy Sector and energy sector digitalization-benefits and challenges would be part of the deliberations among other important issues.
The International Energy Forum (IEF) is an inter-governmental arrangement set up in 1991,based in Riyadh which serves as a neutral facilitator of informal, open, informed and continuing global energy dialogue among its members comprising of energy producing and energy consuming states, including transit countries.
There are 72 membercountries of IEF, including India, covering all six continents, which are signatories to the Charter of the IEF. Its membership accounts for 90% of global supply and demand for oil and gas.
The Executive Board (EB) set up in 2002 comprising of 31 designated representatives of Ministers of the member states comprise the governing board of IEF. It meets twice a year. International Energy Agency (IEA) and Organisation of the Petroleum Exporting Countries (OPEC) are non-voting members of the Executive Board. The EB is chaired by the Host State of the next biennial Ministerial Meeting.Currently, India is the Chair of the Executive Board of IEF.
By virtue of being among the top 11 largest consumers of Oil and Gas (India is presently 4th), India has been the Permanent Member of the Executive Board since its set-up in 2002. India had earlier hosted the 5th IEF Ministerial in 1996 at Goa.
Apart from member countries, invitations have also been extended to 20 other countries where India has oil and gas engagements/interests.
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