India’s Petroleum Minister Hardeep Puri on Monday said that higher energy prices are leading to intended and unintended consequences.
“While at one end it is leading to a global recession, at the same time it is also hastening India’s energy transition across biofuels, green hydrogen and electric vehicles,” he said while addressing the plenary panel at the inaugural ceremony of Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC2022).
UAE’s Energy and Infrastructure Minister Suhail Mohamed Al Mazrouei, Egypt’sPetroleum and Mineral Resources Minister Tarek El-Molla and US Special Presidential Coordinator Amos Hochstein were also present on the occasion.
Puri, who is on a visit to the UAE, also met the new OPEC Secretary General Haitham al-Ghais in Abu Dhabi.
India consumes 14 per cent of OPEC hydrocarbon production totaling $48 billion last year.
Puri invited him to visit India for India Energy Week and OPEC India dialogue in February 2023.