India inks MoU with IEA for global energy security

India inks MoU with IEA for global energy security

India on Wednesday inked a strategic partnership settlement with the International Energy Agency (IEA) to strengthen cooperation in global energy safety, stability and sustainability.

This partnership will lead to an intensive change of information and could be a stepping stone in direction of India turning into a full member of IEA, an influence ministry assertion stated.

“The Framework for Strategic Partnership between the IEA members and the Government of India was signed on 27th January, 2021 to strengthen mutual trust and cooperation & enhance global energy security, stability and sustainability,” it stated.

The Memorandum of Understanding (MoU) was signed by Power Secretary Sanjiv Nandan Sahai and IEA Executive Director Fatih Birol.

“The contents of the strategic partnership will be jointly decided by 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, such as Energy Security, Clean & Sustainable Energy…Expansion of gas-based economy in India etc,” it stated.

The IEA Secretariat will likely be accountable for implementation of the cooperative actions in India and for facilitating dialogue between the IEA members and India to additional develop the strategic partnership.

Through this settlement, the Indian authorities endeavours to take crucial steps to encourage and promote strategic and technical cooperation within the energy sector within the recognized areas, the ministry added.

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