International Energy Forum

CNC
Added On April 13, 2018

The International Energy Forum or IEF has wrapped up in the Indian capital of New Delhi. 
 
This year's two-day forum features the largest gathering of energy ministers in the world, discussing the future of how to keep the lights on. 
 
The event kicked off in India on Tuesday, after a long gap of 22 years.
 
More than 50 energy ministers, 30 industry leaders and over 1200 delegates are at the two-day event.
 
SOUNDBITE (ENGLISH): SUN XIANSHENG, Secretary General, IEF
"I am proud to hold of our flagship event in India,the country whose future is bright and blooming. As a result, India will help drive global energy market developments in the coming decades."  
 
The theme of "IEF 16" is "The future of energy security".
 
The theme sees the IEF's 72-member countries vow to focus on finding new technologies; as well as increasing investment in the energy sector as it moves from fossil fuels to renewables. 
 
SOUNDBITE (ENGLISH): NARENDRA MODI, Indian Prime Minister
"We are entering an era of energy abundance. However, 1.2 billion people did not have access to electricity. Many more do not have access to clean cooking fuel. We must ensure that this situation is not exploited to the detriment of the underprivileged. People must have universal access to clean, affordable, sustainable and equitable supply of energy."  
 
Around the world, energy consumption is shifting from developed countries - to developing countries.
 
India is the first energy consumer - and demand is growing fast.
 
Per head, Indians use around 11 times less power than Americans each year - meaning there's a lot of potential for growth. 
 
Energy consumption in India is predicted to grow more than four percent a year, for the next 25 years - the fastest in the world among major economies.
 
And gas demand is on course to triple by 2040.