'Navigating the Energy Transition: Balancing Innovation with Justice'

India's Oil Minister, Hardeep Singh Puri, stresses a nuanced approach to energy transition at India Energy Week. He emphasizes that the shift from fossil fuels to renewables must be just and strategic, ensuring energy justice and avoiding abrupt disruptions for developing nations. Renewable energy, while crucial, needs strategic support from oil, gas, and emerging technologies like AI.

In a significant address at India Energy Week, Oil Minister Hardeep Singh Puri called for a nuanced approach to the energy transition. He emphasized that moving from fossil fuels to cleaner sources must be strategic and equitable, ensuring that developing nations maintain access to affordable energy while scaling up renewables.

Puri highlighted the necessity for hydrocarbons to play a strategic role alongside renewables, even as global investment in clean energy technologies is projected to exceed USD 2 trillion by 2024. He noted the pivotal role of oil and gas in stabilizing energy grids and supporting industrial developments as renewables gain dominance.

Addressing the role of artificial intelligence in energy consumption, Puri highlighted the dual challenge and opportunity it presents. He advocated for a strategic investment across energy sectors to ensure reliability and decarbonization, stressing the importance of a just transition to avoid socioeconomic disparities.

(With inputs from agencies.)