PNGRB holds inaugural edition of International Conference of Petroleum and Natural Gas Regulators

The conference on the sidelines of IEW ’24 was attended by Minister Hardeep S Puri who reiterated PM’s vision to increase share of natural gas from 6 percent to 15 percent

The inaugural edition of the International Conference of Petroleum and Natural Gas Regulators took place under the auspices of the Petroleum and Natural Gas Regulatory Board (PNGRB) from February 5th to 8th, 2024, as part of the India Energy Week (IEW) 2024 in Goa. The conference brought together major National Energy Regulatory Authorities from South and Southeast Asian countries such as Bangladesh, Indonesia, Malaysia, Sri Lanka, and Thailand, alongside international industry leaders. S&P Global Commodity Insights acted as the knowledge partner for the event.

The overarching theme of the conference, “Navigating Pathways for Natural Gas Development,” underscored the crucial role of natural gas in driving swift and substantial emission reductions necessary to achieve the climate goals of emerging and developing nations. The discussions in the five plenary sessions covered a wide range of topics, including the geopolitical uncertainties affecting energy security, the rapid development of infrastructure, public-private partnerships, and institutional growth. An exclusive roundtable of international regulators provided a platform for sharing best practices and collaborative strategies across borders to enhance energy security and ensure effective governance. Hardeep Singh Puri, the Minister of Petroleum and Natural Gas and Housing and Urban Affairs, reiterated the Prime Minister’s vision to increase India’s natural gas share from 6 percent to 15 percent in the energy mix. He commended PNGRB for this initiative and proposed that international regulatory gatherings of oil and gas regulators become a regular feature of IEW. Dr. Anil Kumar Jain, Chairperson of PNGRB, emphasised the importance of regional collaboration among South and Southeast Asian countries to share knowledge and formulate effective regulatory frameworks for natural gas development.

The distinguished speakers emphasised the necessity for natural gas to play a significant role in the energy mix as a transition fuel towards achieving net-zero emissions. They highlighted the geopolitical uncertainties affecting energy supply to developing countries and stressed the need for a unified approach from the global south to secure energy supply. The discussion shed light on India’s regulatory framework and infrastructure development for natural gas, particularly in the overall infrastructure and city gas distribution sectors, to provide reliable and affordable clean energy. Industry leaders advocated for a regional clean energy agenda between South and Southeast Asian nations through interconnected gas and electricity grids. The International Conference of Petroleum and Natural Gas Regulators served as a hub of expertise, providing an opportunity for stakeholders to network, exchange knowledge, and establish partnerships to shape the future of natural gas development.