India has agreed to host the 9th Asian Ministerial Energy Roundtable (AMER9) next year, the International Energy Forum (IEF) said on Tuesday.
The 9th Asian Ministerial Energy Roundtable, dates of which will be announced later, will take forward the understandings reached in the previous meeting in Abu Dhabi during 2018, which was co-hosted by India. That meeting focused on global energy security in the age of change.
India agreed to host the 9th roundtable after a virtual meeting between IEF Secretary-General Joseph McMonigle and Oil Minister Dharmendra Pradhan, the IEF said in a statement.
Chief executive officers of Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum Corp, in addition to senior officers from the Ministry of Petroleum and Natural Gas, were also present at the meeting.
"Their discussions also covered the IEF agenda of activities, energy markets and the recovery of the global economy in the wake of the COVID-19 pandemic," the statement said.
The two agreed to continue their institutional engagement on a regular basis and will consider a new proposal drafted by the IEF to enhance bilateral cooperation.
"We welcome India's decision to host the Asian Ministerial Energy Roundtable next year.
"This demonstrates the value of the IEF as a neutral platform to convene the world's energy powers and support dialogue to balance the interests of energy market participants and minimise the risks of economic shocks," said McMonigle.
He added that India is expected to account for the largest share of energy demand growth of any country in the world over the next two decades. "So, their decisions on energy and the transition will be critical in determining the future of energy markets and climate change for everyone."
Pradhan said India appreciates the role of the IEF as a unique, neutral body of energy producers and consumers.
"We held discussions on global oil markets and transition pathways, and I conveyed our concern on rising crude prices and its negative impact on the fragile global economic recovery and the need for price stability," he said.
The International Energy Forum (IEF) is the world's largest energy organisation with 71 member countries, accounting for 90 per cent of the global energy market. It holds energy dialogue promoting energy security, market stability and transparency in the transition to a sustainable and inclusive future.