09/23/2021
*Indian Energy Security and Long Term Relationship in EMGF*
The situation in the Eastern Mediterranean is worrying. Turkey’s unilateral decisions on oil exploration are causing tensions. French Air Force Rafale fighters and frigates were deployed in August 2020 in order to defend common interest vis-à-vis Turkey and its offensive behaviour towards members of the Eastern Mediterranean Gas Forum (EMGF) in the zone. The military cooperation that is being developed since 2020 between Athens and New Delhi demonstrates the security worries at stake for both countries in the Eastern Mediterranean too, in particular vis-à-vis the Turkish-Pakistani developing friendship which is being especially worrying for India beyond its borders. On 26th June 2021 the visit of Indian Foreign Minister S. Jaishankar in Athens, Greece was the first one after 18 years and is being seen towards its increasing cooperation in the area.
India’s combined import bill for fossil fuels triples over the next two decades in the STEPS, with oil by far the largest component, pointing to continued risks to India’s energy security. Domestic production of oil and gas continues to fall behind consumption trends and net dependence on imported oil rises above 90% by 2040, up from 75% today. This continued reliance on imported fuels creates vulnerabilities to price cycles and volatility as well as possible disruptions to supply. Energy security hazards could arise in India’s domestic market as well, notably in the electricity sector if the necessary flexibility in power system operation does not materialise. An additional systemic threat to the reliability of electricity supply comes from the poor financial health of many electricity distribution companies. Improving the cost-reflectiveness of tariffs, the efficiency of billing and collection and reducing technical and commercial losses are key to reforming this sector.
The discussion is taking place with *Prof. John M. Nomikos, Ph.D.* who is the Director at the Research Institute for European and American Studies (RIEA), Chairman, European Intelligence Academy (EIA) and Founding Editor of Journal of European and American Intelligence Studies (JEAIS). He is a Fellow in the International Association for Counter-Terrorism and Security Professionals (IACSPSEA). He is a Member of the Editorial Advisory Board for the International Journal of Intelligence and Counterintelligence (IJIC).
The other expert in the discussion is *Dr. Ajay Kumar, PH.D*. He is Chairman of the Board of Directors Fox Petroleum Group. He is very good at Calculated Risk Taking, hence jumped in Oil & Gas Sector as per his plan – and got very good response from the market and Government due to his convincing attitude to investor and being flexible to negotiate. With deep sectorial experience and regular interactions with leaders of oil and gas sector entities, he is expert in Global Energy Security Landscape and the specific energy security needs of India.
The YouTube Live discussion is conducted by *International Council for Industrial Security & Safety Management* (ICISS) which is purely non-commercial forum without any support from any business groups and is not projected by any business house in the background. All its members have no stake in any solution providing or consultancy firms. Their association with ICISS is totally based on knowledge sharing and networking.
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*The Link to view the live discussion and to raise question and comments, please click on the link*-
India’s combined import bill for fossil fuels triples over the next two decades, with oil by far the largest component, pointing to continued risks to India’...
