India and the United States have agreed to explore new avenues to further enhance bilateral cooperation across the energy sector, ensuring a just and structured transition to cleaner energy sources. This development emerged following a meeting between India’s Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, and Geoffrey Pyatt, the U.S. Assistant Secretary of State for Energy Resources. The two leaders met during the 52nd Gastech Exhibition and Conference held in Houston.
Hardeep Singh Puri shared his thoughts on the meeting through a post on X (formerly Twitter), where he expressed his long-standing friendship with Pyatt, spanning over three decades. “Met my friend for more than three decades & US @AsstSecENR Mr Geoffrey Pyatt at #GasTech2024 in Houston today. We reviewed the existing energy cooperation and agreed to explore ways to further strengthen bilateral cooperation across the energy value chain for a just & orderly energy transition,” Puri wrote.
The discussion between the two leaders revolved around broadening and deepening U.S.-India cooperation in the energy sector. Both emphasized the importance of the ongoing collaboration between institutions and companies from both countries. Pyatt also shared his perspective on their meeting through a post on X, remarking, “Always a pleasure to meet my friend @HardeepSPuri and his team. Today at #Gastech, we discussed investment, India’s exploration potential, and cooperation between Indian companies and international partners.”
During the conference, Puri participated in a session titled “From Mitigation to Adaptation: Navigating Volatile Geopolitics in a Fragmenting Global Order”. In his address, he highlighted the pivotal role that emerging markets are playing in reshaping the global energy landscape. He noted that nearly 80 percent of the projected increase in global energy demand by 2045 would stem from emerging economies. This surge in demand is spurring significant investments in both conventional and renewable energy sources, underscoring the importance of a diversified energy approach.
Puri emphasized India’s proactive role in addressing global energy challenges, stating, “Without India’s proactive approach, the world could have faced an even more severe energy crisis.” He further elaborated that India, as the fastest-growing large economy, consumes approximately 5 million barrels of crude oil daily, with 67 million people visiting petrol stations across the country every day. India’s energy demand is projected to grow at a compounded annual growth rate of 3 percent until 2040 and is expected to double by 2050.
Under Prime Minister Narendra Modi’s leadership, India has adopted a balanced and pragmatic approach that aligns its climate commitments with national interests. Puri highlighted several measures taken by India to boost domestic energy production, diversify energy supplies, and accelerate the adoption of low-carbon technologies like biofuels, electric vehicles, and hydrogen.
Additionally, Puri held a meeting with Vimal Kapur, Chairman and CEO of Honeywell. Their discussions centered on the importance of innovation and emerging technologies in advancing low-carbon solutions. The two leaders also explored potential collaborations between Honeywell and Indian energy companies, particularly in the areas of green hydrogen, biofuels, carbon capture, utilization, and storage (CCUS), and other investment opportunities.
