Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas (MoPNG) highlighted the role of biofuels and the importance of G20 countries’ collaboration in achieving the full potential of biofuels. He addressed the Global Biofuel Alliance Seminar organised by MoP&NG on the sidelines of the Third Energy Transition Working Group Meeting in Mumbai.
Jain in his keynote address focused on the untapped potential in biofuels and its increasing appeal from clean energy transition, wide-ranging application, techno-commercial viability, and financing standpoints. He also laid emphasis on the importance of biofuels in boosting economic prosperity, energy security, access, and affordability while being sustainable and supporting decarbonisation.
The seminar witnessed whole-hearted participation and encouragement from the oil and gas industry, international organisations such as IEA and Biofuture platform, representatives of G20 countries, industry bodies such as CII and ASSOCHAM, major automobile manufacturers, producers, and significant technology providers as well as their associations.
In February 2023, the MoPNG reported that Brazil, India, and the US are leading biofuel producers and consumers and will work together during the next few months towards the development of a Global Biofuels Alliance along with other interested countries. This Alliance will aim at facilitating cooperation and intensifying the use of sustainable biofuels, including in the transportation sector. It will place emphasis on strengthening markets, facilitating global biofuels trade, development of concrete policy lesson-sharing and provision of technical support for national biofuels programs worldwide. It will also emphasise the already implemented best practices and success cases.