India has a huge appetite for energy, and will be a driver of global energy demand in coming decades said Union Minister of Petroleum & Natural Gas and Steel Dharmendra Pradhan while inaugurafing the Indian Pavilion at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) on 11th November.

The India Pavilion has been set up by 9 Indian Oil & Gas companies from the upstream, midstream, downstream and engineering segments, alongwith Federation of Indian Petroleum Industry (FIPI), Directorate General of Hydrocarbons (DGH) and Confederation of Indian Industry (CII).

The Minister informed that even though India is adopting renewable energy in a big way, but in coming two decades
oil and gas would continue to play a critical role in meeting energy requirement of the country.

He said “Our focus is to attract global investments into the oil and gas sector, as India would invest 100 billion dollars by 2024 in refining, pipelines and gas terminals.

Pradhan echoed that India is an attractive investment destination for global investors due to its political stability, predictable policies and a huge diverse market. There is no better place to invest if you are in the business of energy as we have recently liberalized the entry norms for fuel retailing which has paved way for entry of new players in the fuel retailing space and enhancing competition.