The presentation on Energy Outlook covered the profile of incremental global energy consumption which will be fuelled by China and India due to increasing energy appetite of their middle class & higher urbanization rate. The presentation highlighted that in next 15 years the growth of oil & coal demand will remain low with a significant increase in demand of natural gas and low carbon energy. During the presentation it was also highlighted that with low cost of solar PV technology and most countries moving towards less dependency on fossil fuels, solar PV capacity will see a significant growth. The presentation also covered India perspective of the energy outlook. As per World Energy Outlook, the percent share of natural gas will remain significantly less than 15% by 2040. Aggressive measures are required to accelerate the growth of natural gas in India. It was also highlighted that with an ever increasing demand in the petrochemical sector, the investments plan for expansion of refineries in India do not run risks.

Aspect of electric vehicle in India was also touched upon and it is believed that electric vehicle will receive a significant thrust in regions where air pollution pose a challenge. It was also highlighted that with the possible plan of increase in electric vehicles in India, the market share of CNG transport vehicles may get impacted. Therefore investments in CGDs have to be well thought of since around 47% of market share in city gas distribution network is from CNG vehicles.

During the presentations, member had opportunity to raise their queries, seek clarification and also express their views on the future energy outlook and disruptions happening in the oil and gas industry.