1.AGREEMENT WITH IEA
India has inked a Strategic Partnership Agreement with the International Energy
Agency (IEA) to strengthen cooperation in global energy security, stability andsustainability.
Objective: To encourage and promote strategic and technical cooperation in theenergy sector.
- It will lead to a wider exchange of knowledge and will be a step towards makingIndia a full member of the IEA.
- Strengthen mutual trust and cooperation & enhance global energy security,stability and sustainability.
- A phased increase in benefits and responsibilities for India as an IEA strategicpartner.
- Building on existing areas of work and the Clean Energy TransitionsProgramme (CETP), such as energy security, clean and sustainable energy,energy efficiency, enhancing petroleum storage capacity, expansion of gas-basedeconomy in India etc.
Implementation of the Agreement: IEA Secretariat
INTERNATIONAL ENERGY AGENCY
- In 1974 as per framework of the Organization for Economic Cooperationand Development (OECD).
- IEA is an autonomous intergovernmentalorganisation.
- Established in the wake of the oil crisis of 1973-1974, to help its membersrespond to major disruptions in oil supply.
- Over time, the mandate of the IEA has expanded to include tracking andanalyzing key global energy trends, promoting sound energy policy and encouragingmultinational energy technology cooperation.
- Its mission is to ensure reliable, affordable and clean energy for its membercountries and beyond.
Its mission is guided by four main areas (4E’s):
- Energy Security,
- Economic Development,
- Environmental Awareness and
- Engagement Worldwide.
Headquarter (Secretariat): Paris (France).
- The Governing Board is the main decision-making body of the IEA.
- It is composed of energy ministers or their senior representatives from eachMember country.
- It has 30 members at present.
- A candidate country must be a member countryof the OECD. But all OECDmembers are not IEA members.
ELIGIBILITY FOR MEMBERSHIP:
- Crude oil and/or product reserves equivalent to 90 days of the previousyear’s net imports.
- India falls shorton the criteria of Crude oil reserve: India stores 10days of the country’s crude oil requirements currently, with domesticrefiners also maintaining 65 days of crude storage.
- The government is alsobuilding strategic crude oil reservesto support another 12 days of crudeoil needs.
REDUCE NATIONAL OIL CONSUMPTION BY UP TO 10%.
- Legislation and organisation to operate the Coordinated EmergencyResponse Measures (CERM)on a national basis.
- Measures in place to ensure the capability of contributing its share of an IEAcollective action.
CLEAN ENERGY TRANSITIONS PROGRAMME (CETP)
- Launched in November 2017,the IEA Clean Energy Transitions Programme (CETP)is an effort to accelerate global clean energy transitions.
- The programme provides independent, cutting-edge support to governments in orderto catalyze the global transition towards more sustainable energy production and use.
- Priority countries include Brazil, China, India, Indonesia, Mexico and SouthAfrica, as well as other IEA Association countries and key regions such asSoutheast Asia, Latin America and Africa.
- CETP activities include collaborative analytical work, technical cooperation, trainingand capacity building and strategic dialogues.