PM Modi to interact with CEOs of leading global oil and gas firms on Monday

PTI
New Delhi, India Published: Oct 23, 2020, 11.09 PM(IST)

Prime Minister Narendra Modi Photograph:( ANI )

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The objective behind the meeting is to deliver a global platform to understand best-practices, discuss reforms, and inform strategies for accelerating investments into the Indian oil and gas value chain

Prime Minister Narendra Modi will interact with CEOs of leading global oil and gas companies on Monday at an annual event organised by the NITI Aayog and the Ministry of Petroleum and Natural Gas.

The Prime Minister's Office (PMO) said that this is the fifth such event organised by the NITI Aayog and Ministry of Petroleum and Natural Gas, and around 45 CEOs of major oil and gas companies will attend the roundtable this year.

The objective behind the meeting is to deliver a global platform to understand best-practices, discuss reforms, and inform strategies for accelerating investments into the Indian oil and gas value chain, the PMO said in a statement.

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The annual interaction has gradually become one of the most important gatherings of not only intellectual debate but also of executive action, it said.

The event also grows in stature with the rise of India, the world's third-largest energy consumer, which is likely to see investment of over USD 300 billion by 2030 in the oil and gas sector to meet the rising demand, the PMO said.

The prime minister will interact with the CEOs at 5.30 pm IST on October 26 via video conference, the statement said.

India is an important player in the global oil and gas sector, being the third-largest consumer of crude oil and the fourth-largest LNG importer, the PMO said.

Realising the need for India to graduate from a passive consumer to an active and vocal stake-holder in the global oil and gas value chain, NITI Aayog initiated the first roundtable of global oil and gas CEOs with the prime minister in 2016.

The growth of the event was apparent as around 45-50 global CEOs and key stakeholders who shape the global oil and gas sector assembled every subsequent year to interact and discuss the issues and opportunities with the prime minister, the PMO said.
The impact of the annual global CEOs interaction can be seen in the gravity of discussion, quality of suggestions and the seriousness with which they are acted upon, it said.

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