ANI
27 Jan 2021, 23:03 GMT+10
New Delhi [India], January 27 (ANI): India and the International Energy Agency (IEA) on Wednesday signed a framework for a strategic partnership to strengthen mutual trust and cooperation and to enhance global energy security, stability and sustainability.
This partnership will lead to an extensive exchange of knowledge and would be a stepping stone towards India becoming a full member of the Paris-based IEA, the ministry of power said in a statement.
The IEA was created in 1974 to help co-ordinate a collective response to major disruptions in the supply of oil. It is made up of 30 member countries and also includes eight association countries.
The Memorandum of Understanding was signed by Sanjiv Nandan Sahai, Secretary (Power) and Dr. Fatih Birol, IEA Executive Director.
Birol termed the signing of the agreement as a historic moment and a huge step forward for global energy governance.
"A historic moment in India-IEA relations - and a huge step forward for global energy governance! Very proudhonoured to sign the -@IEA. Strategic Partnership Framework today with Secretary @Sanjiv_Sahaiassembled dignitaries. Look forward to deepening our collaboration," he tweeted.
"The contents of the Strategic partnership will be jointly decided by the IEA Members and India, including a phased increase in benefits and responsibilities for India as an IEA Strategic partner, and building on existing areas of work within Association and the Clean Energy Transitions Programme (CETP), such as Energy Security, CleanSustainable Energy, Energy Efficiency, Enhancing petroleum storage capacity in India, Expansion of gas-based economy in India etc," the power ministry statement further read.
The IEA Secretariat will be responsible for implementation of the cooperative activities in India and for facilitating discussion between the IEA Members and India to further develop the Strategic Partnership.
The Government of India, the power ministry said, endeavours to take necessary steps to encourage and promote strategic and technical co-operation in the energy sector in the identified areas noted above, through the Framework Agreement. (ANI)
Get a daily dose of Colorado Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Colorado Star.
More InformationDUBLIN, Ireland - It will take until 2023 for Ireland to return to full employment following the Covid pandemic, Ireland's ...
RIO DE JANEIRO, Brazil - Shares of state-owned oil company Petrobras fell 22 percent on Monday, wiping out $13 billion ...
Washington [US], February 28 (ANI): At present, India has two aircraft carriers - INS Vikramaditya and INS Viraat, while it ...
Somali officials on Saturday issued the country's first license to a mobile money service, bringing regulation to the widely used ...
Islamabad [Pakistan], February 27 (ANI): As Pakistan's financial debt continues to mount, the Imran Khan government received USD 6.7 billion ...
Spot gold dropped 2.4% to $1,728.92 an ounce on Friday at 3:22 pm in New York, after slumping to the ...
BEIJING, China: The Chinese public seems to have developed a penchant for the pocket-friendly Hong Guang Mini EV, priced at ...
WASHINGTON, DC - The White House press secretary has told reporters it is not certain whether the United States will ...
NEW YORK, New York - Experts are searching for an answer as to what caused the flu to virtually disappear ...
WASHINGTON, DC: In order to reduce the United States' reliance on the imports of advanced batteries, pharmaceuticals, critical minerals and ...
ANNAPOLIS, Maryland - Maryland lawmakers and environmental groups rallied Wednesday for new legislation they say would improve the process of ...
LOS ANGELES, California: California has now recorded over 50,000 deaths from COVID-19, representing more than ten percent of the total ...