The Economic Times Oil & Gas Annual Conference & Expo 2024 is set to kick off from December 11 to 13, 2024, at Yashobhoomi, Dwaraka, New Delhi. India finds itself at a pivotal moment as it aims to strengthen its role within the global energy market, particularly as the demand for energy is projected to double by 2050.
This year’s expo brings together industry leaders and experts who will deliberate on various topics, including the future of the liquefied natural gas (LNG) market. Experts participating at the conference indicated strong optimism, noting how the LNG market is expected to maintain stability and achieve balance within the next decade. This stability is anticipated to arise from planned capacity expansions and consistent demand, particularly driven by economic growth across Asia.
Speaking on the sidelines of the expo, industry experts emphasized the urgency for India to invest strategically in greenfield refineries and cutting-edge technology to nurture its energy transition. Many industry insiders believe these investments are key to reducing carbon emissions and enhancing energy security.
“India's energy transition is increasingly turning to natural gas as a central element of its strategy. It plays a significant role as the country seeks to meet burgeoning energy demands without compromising environmental goals,” said one of the speakers. Natural gas is viewed as cleaner and more sustainable compared to coal and oil, which aligns with the broader objective of reducing air pollution and supporting climate commitments.
The expo is not just about discussions; it's also about showcasing innovative technologies and infrastructure developments. With the global LNG market closely watching Asia, experts will explore how India can leverage its geographical location and resources to attract investments and develop necessary infrastructure.
Notably, India’s interest in LNG is peaking, as it aims to be less reliant on coal and oil, which have substantial carbon footprints. The Indian government has underscored its commitment to sustainable energy through various initiatives, including investments aimed to establish additional gas stations and improve the delivery of LNG. This includes ambitions to create pipelines and other infrastructures to facilitate the more efficient transport of natural gas.
During the expo, leaders from the oil and gas sectors will address the changing dynamics of energy demands and how technology will facilitate this shift. Emerging technologies are expected to streamline processes and reduce costs, making energy production not only more efficient but also environmentally friendly.
With India being the third-largest consumer of oil, experts noted the necessity for balancing domestic consumption with environmental responsibilities. “We’re at the crossroads of innovation and sustainability,” stated another industry veteran. “Investment and rigorous planning can lay the groundwork for India to emerge as a key player amid changing global energy patterns.”
Alongside the discussions on LNG and infrastructure, the expo will also shed light on upcoming regulations, global pricing structures, and future energy policies. Industry forecasts suggest the global LNG market will flourish, particularly owing to favorable pricing dynamics and increasing demand from countries focusing on cleaner energy sources.
The event will act as both a networking opportunity and a platform for knowledge sharing. Participants will include government officials, business leaders, and policy advocates who will join forces to explore innovative solutions and sustainable practices.
To highlight its growing importance, the conference will feature sessions on the future of petrochemicals and the integration of new technologies, which have become pivotal as India continues to evolve as one of the world’s fastest-growing economies.
Overall, the ET Oil & Gas Expo 2024 promises to deliver insightful content, expert opinions, and actionable knowledge aimed at shaping the future of India’s energy sector as it aligns itself with global standards.
