 is a reality and the future strategies are going to be now more driven by sustainability, climate change and our commitment to take the energy to the poorest of the poor, make it more accessible and affordable and that is where we are looking for a new thinking, a new approach, collaborations, innovations, partnerships, new technologies, policies, strategies and yes a very dynamic leadership so as to counter and combat these strong headwinds which are there and in that regard ladies and gentlemen at the outset we would like to place and express our utmost thanks to our Honorable Prime Minister, someone who is a global leader who has been recognized on the world stage, recognized by United Nations as a champion of the earth for driving a new thinking, a new initiative, a new collaboration, the International Solar Alliance and then for promoting higher levels of cooperation on environmental protection. Back home ladies and gentlemen it is under the leadership of our Honorable Prime Minister, very bold and clear thinking that India today is recalibrating its energy strategies to meet this huge demand of energy as we move forward towards shaping a new India, making this growth more equitable and inclusive and taking this energy to our people but with this very strong commitment of being responsive and committing towards sustainable development. So on behalf of everyone we would like to thank our Honorable Prime Minister to be with us, to lead us and guide us in this very important summit and I think all of us agree that the summit holds a lot of national, global, economic, social and yes, environmental importance. Thank you Honorable Prime Minister sir and now ladies and gentlemen we would also like to show here India's rising energy sector and towards that we would like to present a short film. There is a new reality in the oil and gas industry. The need to meet rising energy demands while lowering emissions. The need of the hour in this challenging energy landscape is constant innovation, building collaborations and partnerships. Energy effluents can come through effective engagement, energizing, sustainable future makes the cornerstones of all these engagements. India has experienced the shifts in energy dynamics first hand. Despite ups and downs there is great optimism in the country with major development initiatives like Make in India, Start Up India, Digital India, Skill India and Smart Cities transforming the country side. High economic growth, a growing population and ever increasing energy demand are propelling India into an attractive hydrocarbon destination for trade, technology and investment. India has a multi-pronged approach for meeting its energy requirements. Our Honorable Prime Minister has put forth four pillars for India's energy future. Energy access, energy efficiency, energy sustainability and energy security. Energy in general and hydrocarbons in particular are an important part of my vision for India's future. India needs energy which is accessible and affordable to the poor. In efforts to ensure energy access to all the Indian government has successfully launched and implemented schemes like Pradhan Mantri Ujwala Yojana under which more than 60 million families have been provided LPG connections and Pradhan Mantri Harghar Bijli Yojana Saabhagya to ensure electrification of rural homes. With a vision for energy security, India has established a renewed focus on boosting domestic oil and gas production and the government has formulated path-breaking policies like HELP. One of the world's largest deep water oil and gas projects is being implemented at the Krishna Godavari basin with an investment of over 5 billion US dollars. India has also made investments in upstream assets all over the world. In India, work is in progress to develop a gas grid ecosystem with an additional 15,000 kilometers of pipeline to be added to double the existing network of 30,000 kilometers. The Pradhan Mantri Urjaganga project and a new LNG terminal being developed on the east coast of Odisha have given a big boost to the eastern part of the country. Plans are in place to connect 326 cities with city gas distribution network by 2022. On the refining front to emerge as a global refining hub, India is expanding domestic refining capacity from 230 to 480 million tons per annum by the year 2040. Besides ongoing and planned brownfield expansions, greenfield projects are on the anvil which includes the world's largest 60 MMTPA integrated refinery competitor chemicals complex with an investment of 14 billion US dollars. The Indian strategic petroleum reserves limited has set up a strategic crude oil storage facility of 5.33 MMT capacity at Vishakhapatnam, Mangalore and Padur and is establishing an additional 6.5 MMT of strategic petroleum reserve in Odisha. To reduce import dependence, biofuels, bamboo bio refinery, biojet fuels are also being encouraged. The conversion of waste biomass to 2G ethanol and biogas to bio CNG are also being fast tracked. India's prowess in R&D has helped in the development of cutting edge technologies leading to greater product optimization and cleaner fuels. Backing the spirit of innovation, 10 public sector undertakings have created a corpus of 45.3 million US dollars to support startup initiatives in the energy sector. Leading oil and gas companies have come together and set up the hydrocarbon sector skill council for skills training and development of the youth in the Indian hydrocarbon sector. As a responsible global member of the committee of nations, India is committed to combating climate change, curbing emissions and ensuring a sustainable future. Come join us as we explore new avenues, build a new India, fuel new aspirations and reach new horizons in the energy sector. Welcome to Petrotech, the confluence of energy. So, welcome ladies and gentlemen to Petrotech, the confluence of energy and now I would like to request the patronage chief for Petrotech 2019, our Honorable Minister, Shri Dharmine Pradhanji for his welcome remarks. Honorable Prime Minister Shri Narendra Modi, honorable Chief Minister of Uttar Pradesh, Shri Yogi Adityanathji, Minister of Colleagues from Mahorsis, Excellencies, Ambassadors and High Commissioners, Representative Paul and Gas Sector, friends from the media, ladies and gentlemen, Namaste and good morning. I would like to thank Honorable Prime Minister for finding time to do the formal inauguration of Petrotech 2019, the 13th edition of India's Plaxseed Hydrocarbon Conference and Exhibition. His presence is always an inspiration for all of us. Friends, energy occupies a very important place in Prime Minister's vision for India. He had attended the last Petrotech in 2016 and had also attended the IEF meeting in New Delhi in early 2018. He has also made it a point to interact and brainstorm with all oil and gas experts from around the world on an annual basis. Friends, lack of access to energy has been a fundamental barrier to progress in many parts of Africa and South Asia and has impacts on a wide range of developmental indicators such as health, education, food security, gender equality, livelihoods and overall poverty reduction. India has been unprecedented reforms in the last five years in the energy sector. These reforms have accelerated our work in delivering energy justice to the poorest of the poor by adopting the four pillars visualized by Honorable Prime Minister Simodi. These are energy access, energy efficiency, energy sustainability and energy security as our guiding principles. Petrotech has also served as a platform to discuss the solutions to the challenges that we face not only in India but also in our respective countries in delivering affordable, efficient, clean and assured energy supplies to all our citizens. I am sure this event provides value to the 7,000 participants and 60 participating countries. The world is seeing a dramatic shift in the source of energy supply and consumption. There has been a big shift in energy consumption from OECD countries to developing Asia. Electric vehicles, alternate forms of energy, industrial revolution 4.0 will also change the consumption patterns. US has become the world's largest oil and gas producer after the sale revolution and it is challenging the traditional oil dynamics. Affordable solar PV is taking increasing share in the supply mix helping to reduce carbon footprints. With Honorable Prime Minister's guidance we have been able to make a meaningful difference in the Indian hydrocarbon sector. Today India's voice is a large, reliably energy consuming nation is here with respect. We have been able to convince the oil supplier about India's as well as all consuming nation's justified stance for a responsible and reasonable pricing. We have been able to simplify and reform our oil and gas sector policies and guidelines to attract new investors and inject new technologies. Schemes like Ujjona and expansion of city gas network have proved to be game changer in the drastically ramping of access to clean cooking fuel to millions of common people in country. Such initiatives are not only leading to energy justice as envisaged by Honorable Prime Minister but also business opportunities and addressing climate change as well as local pollution concerns. I once again thank Honorable Prime Minister to spare his valuable time and his willingness to share his thoughts and vision. I wish success to PetroTech 2019. Hope these two days of deliberation and exchange of ideas among all participants will be enriching and rewarding. Thank you friends. Thank you sir for spelling out the vision and mission for the energy sector, India's energy sector under the leadership of Honorable Prime Minister. And ladies and gentlemen in every PetroTech we've had a tradition of conferring the Lifetime Achievement Award to an international personality for his outstanding contribution and exemplary performance at the global level. We present the Lifetime Achievement Award in the international category and this year PetroTech 2019 Lifetime Achievement Award in the international category is being conferred on his Excellency Dr Sultan Ahmad Al-Zawar, the Minister of State United Arab Emirates and the CEO of AdNok. For his unique contributions to world shaping the world's energy future with his intellectual leadership, insight, clear vision and yes practical guidance. We would also like to now show you a short film on his many contributions and achievements. Since being appointed Group CEO of AdNok in February 2016, Dr Sultan Al-Zawar has led the rapid transformation of the Abu Dhabi National Oil Company, built bridges with growth markets, notably India, and reshaped the business model for the NOC of the future Following the wise guidance and direction of the UAE leadership, Dr Sultan oversaw the successful IPO of AdNok distribution, expanded strategic partnerships, brokered the first ever concession agreement with the consortium of Indian companies, and launched a massive 45 billion US dollar downstream expansion. Dr Sultan has strengthened ties with the rising economies of Asia, in particular with India. In 2017 AdNok signed an agreement to supply six million barrels of crude to India's strategic petroleum reserve, and in June last year AdNok became a strategic partner in the Ratna Giri refining and petrochemicals complex. As a result Dr Sultan has made a valuable contribution to regional and global energy security. Dr Sultan has also emerged as a thought leader with his concept of oil and gas 4.0 defining the industry's mission to modernize in order to ensure the world's growing energy needs are met in the fourth industrial age. Specifically he has stressed the need for the oil and gas industry to leverage artificial intelligence and other breakthrough technologies from big data to blockchain and is leading by example by incorporating these innovations into AdNok's best in class panorama digital command center. In short Dr Sultan has proven himself a true industry pioneer, ensuring the oil and gas industry remains relevant, agile, and responsive to the needs of the future. And now ladies and gentlemen please join us in appreciating and honoring his Excellency Dr Sultan Ahmad Al-Zawar, the Minister of State United Arab Emirates and the CEO of AdNok as he conferred the Petrotech 2019 Lifetime Achievement Award in the international category on him. My request our Honorable Prime Minister to please bestow the honor. Ladies and gentlemen Dr Sultan Zawar has made valuable contributions to regional and global energy security while reshaping the traditional business models to adapt to a fast evolving energy landscape. Petrotech also recognizes the strong support of his Excellency Dr Sultan Ahmad Al-Zawar towards strengthening the strategic energy relationship between India and UAE. May I request Dr Zawar to kindly express his feelings here, the request him to kindly address this focus cancelling. Honorable Prime Minister, Your Excellency, distinguished guests and delegates, let me first say that it indeed gives me great pleasure to be back here in India where the bonds of friendship and strategic ties with the United Arab Emirates run very strong and actually very deep. I am indeed honored and very humbled to receive this prestigious Petrotech Lifetime Achievement Award which recognizes the transformation underway at the Abu Dhabi National Oil Company. This has only been made possible by the wise counsel, guidance, and direction of the United Arab Emirates leadership. Ladies and gentlemen, India's growing demand for energy is in fact unprecedented. Driven by a middle class that is set to grow tenfold over the next decade, ADNOC has built on the strength of the UAE India Strategic Partnership to reinforce our energy cooperation making India not simply a valued customer but in fact a very important strategic partner to the United Arab Emirates. Distinguished delegates, this award is a testament to the fact that everyone who works at ADNOC is dedicated to carrying out this very important mission of enhancing and strengthening the strategic partnership between India and the United Arab Emirates. In accepting this award, I would like to note my special appreciation to the members of the Petrotech Prize jury for their hard work and consideration and for all my dear friends here in India. Thank you so much. Thank you Dr. Zawar and once again many congratulations to you, to your company and we really value the immense contribution which you have been making to the global energy sector. And now ladies and gentlemen as we seek the guidance of our Honourable Prime Minister, I would like to request our Honourable Prime Minister Sheenarindra Modiji and invite him for his inaugural address. UPCM, Sri Yogi Atindra ji, Minister of Petroleum and Natural Gas, Sri Dahimendra Pradhan ji, ministers of energy from guest countries, captains of the oil and gas sector, excellencies, distinguished delegates, ladies and gentlemen. Namaste. At the outset, I apologize for the delay logistic reasons. I'm delighted to welcome you all to Petrotech 2019, the 13th edition of India's flagship hydrocarbon conference. I would also like to congratulate his Excellency Dr. Sultan Al-Jawar for his contribution to the energy sector and vision for the future. Over the last quarters century Petrotech has served as a platform to discuss solutions, to challenge that we face in the energy sector. In each of our respective countries, we seek to deliver affordable, efficient, clean and assured energy supply to our citizens. The presence of over 60 countries and 7,000 delegates is a reflection of that common quest. Several decades of public life have convinced me that energy is a key driver of socio-economic growth. Suitably priced, stable and sustainable energy supply is essential for rapid growth of the economy. It also helps the poor and deprived section of society to partake of economic benefits. At the macro level, the energy sector is a pivot and key enabler of growth. Friends, as we gather here to discuss the present and future global energy, winds of change are evident in the global energy arena. Energy supply, energy sources and energy consumption patterns are changing. Perhaps this could be a historic transition. There is a shift in energy consumption from west to east. The United States has become the world's largest oil and gas producer of the shale revolution. Solar energy and other renewable sources of energy have become more competitive. They are emerging as sustainable substitutes for traditional energy forms. Natural gas is fast becoming one of the largest fuels in the global energy mix. There are signs of convergence between cheaper renewable energy technology and digital applications. This may increase the speed of the achievements of many sustainable development goals. Nations are coming together to tackle climate change. This is visible in global partnership such as the international solar alliance promoted by India and France. We are entering an era of greater energy availability. But more than a billion people across the globe still do not have access to electricity. Many more do not have access to clean cooking fuel. India had taken a lead in addressing these issues of energy access. In our success I see hope for the world that problems of energy availability can be suitably addressed. People must have universal access to clean affordable sustainable sustainable and equitable supply of energy. India's contribution in the onset of an era based on energy justice is significant. Currently India is the fastest growing large economy in the world. Leading agencies such as IMF and World Bank project the same trend in the coming years. In an uncertain global economic environment India has shown tremendous resilience and an anchor of the world economy. India recently became the sixth largest economy in the world according according to a recent report by 2030. India could be the second largest world economy. We are also the third largest energy consumer in the world with demand growing at more than five percent annually. India remains an attractive market for energy companies with energy demand expected to more than double by 2040. We have adopted an integrated approach towards energy planning. During the last patrotrack conference in December 2016 I mentioned four pillars for India's energy future. These are energy access, energy efficiency, energy sustainability and energy security. Friends, energy justice is also a key objective for me and a top priority for India. Toward this end we have developed and implemented many policies. The result of these efforts are now evident. Electricity has reached all our rural areas. This year we aim to achieve 100 percent electrification of households in India through a targeted program called Saubhagya. As we raise production we also aim to reduce losses in our Uday scheme working toward this objective. India's World Bank is of getting electricity ranking improved from 111 in 2014 to 29 in 2018. LED bulbs distributed across the country under the Uday scheme have a range of 17,000 crore rupees or nearly 2.5 access to clean cooking fuel provides major benefits especially to children at risk of exposure to smoke pollution. LPG connections have been given to over 64 million or 6.4 crore households in just under three years under the Ujjwala scheme. A blue flame revolution is underway. LPG coverage has reached more than 90 percent from 55 percent five years ago. Clean transportation is getting abuse. We are jumping directly from BS4 to BS6 fuel by April 2020. This is the equivalent of Euro 6 standards. Achievements such as 100% electrification and increased LPG coverage are possible only through people's involvement. Energy justice can be done only when people believe in their collective power. Government is only an enabler in converting the reality. The last five years have seen major reforms in India's oil and gas sector. Our upstream policies and regulations we have launched exploration and licensing policy to bring transparency and competitiveness in the sector. The binding criteria had been changed to this has helped reduce government intervention and open accurate licensing policy and the national data repository is helping in increase exploration interest in Indian fields. Gas pricing reforms have also been introduced. The enhanced oil recovery policy aims to promote the use of latest technology in improving productivity of upstream fields. Our downstream sector has been completely liberalized. Market driven petrol and diesel prices reflect changes in the interest of the price of crude oil. India had the fourth largest refining capacity in the world. This will further grow by about 200 million metric tons by 2030. Our national biofuel policy was enacted last year. Research on second and third generation biofuel is being promoted. 12 second generation bio refineries are being set up in 11 states. The ethanol blending and biodiesel program is reducing carbon emissions and raising farmers incomes. Bio emission turbine fuel has already been tried out in our civil aviation sector. Our government has encouraged private participation across the entire oil and gas value chain. India is becoming an attractive FDI destination. Companies like Saudi, Aramco, AdNoc, Total, ExxonMobil, BP and Shell are looking to increase their investment across the value chain. India is making rapid strides towards the gas-based economy. Our 16,000 kilometers of gas pipeline has been constructed and an additional 11,000 kilometers is under construction. Execution of 3,200 kilometers of gas pipeline in eastern India has begun. This will connect northeast India with the national gas grid. The 10th bid round for city gas distribution will be complete in a month's time. This will cover over 400 districts. It will extend coverage of city gas distribution to 70 percent of our population. We are gearing up for industry 4.0. It will change the way industry operates with new technology and processes. Our companies are adopting latest technologies to improve efficiency, increase safety and reduce costs. This is being done in downstream retail as well as in upstream oil and gas production, asset maintenance and remote monitoring. In recent years, we have deepened our international engagement with organizations such as the International Energy Agency and we chaired the International Energy Fund in 2018 to convert traditional buyer-seller engagements into strategic partnership through bilateral investments. We have also promoted our neighborhood first policy by strengthening energy engagement with Nepal, Bangladesh, Sri Lanka, Bhutan and Myanmar. I have regularly engaged with global oil and gas sector. In my interactions with world leaders and CEOs, I have always maintained that gas are not only a commodity of trade but also of necessity. Whether it is for the kitchen of a common man or for an air cup, energy is essential. For too long, the world has seen crude prices on a roller coaster. We need to move to responsible price which balances the interests of both the producer and consumer. We also need to move towards transparent and flexible markets for both oil and gas. Only then can we serve the energy needs of humanity and in optimal manner. Another key issue that needs the world to come together is climate change. Together we can achieve the targets we set for ourselves at COP 21 in Paris. India has made rapid strides in meeting its commitment. We are on our way to reaching the target. Petrotract provides the perfect setting to ponder over the future of the energy sector. It is a good platform to reflect on how global shift, transitions, policies and new technologies will influence market stability and future investment in the sector. I wish you all a successful and fruitful conference. Thank you. Thank you very much. Thank you, Honourable Prime Minister, sir, for leading us, for guiding us, sharing your progressive commitment and commitment towards development, towards the environment protection and energy justice for all. Thank you. Let's join us, ladies and gentlemen, once again thanking our Honourable Prime Minister for actually magnifying and dignifying this event with his gracious presence. Thank you, Prime Minister, sir. We also thank Yogi Adityanath Ji, the Honourable Chief Minister of