New Delhi (NVI): India has signed a Strategic Partnership Agreement with International Energy Agency (IEA) to strengthen mutual trust and cooperation & 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 IEA, the Ministry of Power said in a statement.
“The Framework for Strategic Partnership between IEA members and the government of India was signed on January 27, 2021, to strengthen mutual trust and cooperation & enhance global energy security, stability and sustainability,” the statement said.
The Memorandum of Understanding (MoU) was signed by Sanjiv Nandan Sahai, Secretary (Power) and Dr Fatih Birol, IEA Executive Director.
The ministry also informed that, 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.
“Also, building on existing areas of work within Association and the Clean Energy Transitions Programme (CETP), such as energy security, clean & sustainable energy, energy efficiency, enhancing petroleum storage capacity in India, expansion of gas-based economy in India etc,” it said.
Further, 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.
Through the framework agreement, the government of India endeavours to take necessary steps to encourage and promote strategic and technical co-operation in the energy sector in the identified areas noted above, the statement added.