India is keen to store oil in the US Strategic Petroleum Reserves to increase India’s strategic oil stockpile

India and the US have signed a Memorandum of Understanding to begin cooperation on strategic petroleum reserves operation and maintenance, including exchange of information and best practices.

This MoU was signed during the second India-US Strategic Energy Partnership meet, co-chaired by Minister of Petroleum and Natural Gas Dharmendra Pradhan and US Secretary of Energy Dan Brouillette on Friday.

According to the press note issued by the Ministry of Science and Technology, during the meet the two sides also discussed the possibility of New Delhi storing oil in the US Strategic Petroleum Reserve to increase India’s strategic oil stockpile.

The two sides announced new areas of research on transformational power generation based on supercritical CO2 (sCO2) power cycles and advanced coal technologies for power generation and hydrogen production, including carbon capture, utilization, and storage (CCUS).

The United States briefed about continued bilateral R&D engagement on advanced civil nuclear energy technologies through the U.S.-India Civil Nuclear Energy Working Group.

The two sides also decided to launch a public-private Hydrogen Task Force to help scale up technologies to produce hydrogen from renewable energy and fossil fuel sources and to bring down the cost of deployment for enhanced energy security and resiliency.

During the meet, they also signed an MOU to collaborate on India’s first-ever Solar Decathlon® India in 2021, establishing a collegiate competition to prepare the next generation of building professionals to design and build high efficiency buildings powered by renewables.

The sides jointly launched collaboration between the US DOE National labs and the Indian National Institutes under the Ministry of New and Renewable Energy as part of the newly launched South Asia Group for Energy (SAGE), supported by USAID, for joint research on development and deployment of advanced clean technologies.

They also agreed to explore possible cooperation through joint activities and information exchange on sustainable biofuel production and use, in particular, bioethanol, renewable diesel, other advanced biofuels, and discussion on possible developments in sustainable biofuels for air and sea transport.

The sides also discussed information exchange in regard to policies and regulations, and other related areas of interest. Another potential area of cooperation is the promotion of bilateral investments in the private sector. The sides will also explore cooperation on utilizing the economic value of converting bio-waste into biogas.

“As India pursues its ambitious renewable energy targets and seeks to transform its energy sector, the sides are collaborating on the deployment and integration of renewable energy and new technologies into the grid; modernizing the power distribution sector; supporting state-level planning for renewable energy; deploying distributed energy technologies, electric vehicles, rooftop solar, and battery storage; redesigning markets, and increasing off-grid energy access,” said the press note issued by the Ministry.

Both India and the US have been collaborating to modernize distribution sector through various reform measures for achieving reliable quality 24X7 power supply through increased private participation; enhancing consumer centricity; deployment of Smart Meters across India; and, establishing Smart Grid Knowledge Centre in India as a “Global Centre of Excellence” for Smart Grids.

USAID and the U.S. International Development Finance Corporation are developing a concept to establish a new $25-million credit guarantee for the Small and Medium Enterprise sector to deploy rooftop solar.

India and the US have been working to enhance building and appliance efficiency through enhanced building codes, design and operation of smart buildings of the future, smart meters and demand side response, as well as retrofit of buildings to improve building performance, promote energy conservation, and improve indoor air quality.

The sides have also been working towards development of a behavioral energy efficiency program and technical assistance for a distributed energy resources plan. The sides are also working to enhance energy efficiency in the industrial sector and will work to advance a comprehensive energy management system in accordance with ISO50001.

In response to the COVID-19 pandemic, USAID and Energy Efficiency Services Ltd (EESL) jointly initiated a new activity, “Retrofit of Air Conditioning to Improve Air Quality for Safety and Efficiency” (RAISE) for healthy and energy efficient buildings. The initiative will be scaled in public sector buildings.

The sides, during the meet, also noted the significant increase in bilateral hydrocarbon trade since the establishment of SEP, with the bilateral hydrocarbon trade touching US$ 9.2 billion during 2019-20, marking a 93 percent increase since 2017-18, and affirmed to promote greater hydrocarbon trade between the two countries.

Through the U.S.-India Natural Gas Task Force, U.S. and Indian industry forged new commercial partnerships on innovative projects and developed a series of policy and regulatory recommendations to support the government of India’s vision to increase the share of natural gas in India’s energy sector. The sides have also held numerous public-private dialogues to provide industry perspectives on challenges and opportunities to trade and investment across the energy sector.

The two sides took note of their governments’ strong commitment to advance their civil nuclear cooperation, and welcomed recent progress on the Westinghouse commercial reactor project at Kovvada, which represents an important milestone in our strategic relationship.

The two sides also agreed to support each other’s vision of national development in the energy sector and encourage investment, including sharing a list of potential projects in which the companies from both sides can be encouraged to invest.India and the US have signed a Memorandum of Understanding to begin cooperation on strategic petroleum reserves operation and maintenance, including exchange of information and best practices.

This MoU was signed during the second India-US Strategic Energy Partnership meet, co-chaired by Minister of Petroleum and Natural Gas Dharmendra Pradhan and US Secretary of Energy Dan Brouillette on Friday.

According to the press note issued by the Ministry of Science and Technology, during the meet the two sides also discussed the possibility of New Delhi storing oil in the US Strategic Petroleum Reserve to increase India’s strategic oil stockpile.

The two sides announced new areas of research on transformational power generation based on supercritical CO2 (sCO2) power cycles and advanced coal technologies for power generation and hydrogen production, including carbon capture, utilization, and storage (CCUS).

The United States briefed about continued bilateral R&D engagement on advanced civil nuclear energy technologies through the U.S.-India Civil Nuclear Energy Working Group.

The two sides also decided to launch a public-private Hydrogen Task Force to help scale up technologies to produce hydrogen from renewable energy and fossil fuel sources and to bring down the cost of deployment for enhanced energy security and resiliency.

During the meet, they also signed an MOU to collaborate on India’s first-ever Solar Decathlon® India in 2021, establishing a collegiate competition to prepare the next generation of building professionals to design and build high efficiency buildings powered by renewables.

The sides jointly launched collaboration between the US DOE National labs and the Indian National Institutes under the Ministry of New and Renewable Energy as part of the newly launched South Asia Group for Energy (SAGE), supported by USAID, for joint research on development and deployment of advanced clean technologies.

They also agreed to explore possible cooperation through joint activities and information exchange on sustainable biofuel production and use, in particular, bioethanol, renewable diesel, other advanced biofuels, and discussion on possible developments in sustainable biofuels for air and sea transport.

The sides also discussed information exchange in regard to policies and regulations, and other related areas of interest. Another potential area of cooperation is the promotion of bilateral investments in the private sector. The sides will also explore cooperation on utilizing the economic value of converting bio-waste into biogas.

“As India pursues its ambitious renewable energy targets and seeks to transform its energy sector, the sides are collaborating on the deployment and integration of renewable energy and new technologies into the grid; modernizing the power distribution sector; supporting state-level planning for renewable energy; deploying distributed energy technologies, electric vehicles, rooftop solar, and battery storage; redesigning markets, and increasing off-grid energy access,” said the press note issued by the Ministry.

Both India and the US have been collaborating to modernize distribution sector through various reform measures for achieving reliable quality 24X7 power supply through increased private participation; enhancing consumer centricity; deployment of Smart Meters across India; and, establishing Smart Grid Knowledge Centre in India as a “Global Centre of Excellence” for Smart Grids.

USAID and the U.S. International Development Finance Corporation are developing a concept to establish a new $25-million credit guarantee for the Small and Medium Enterprise sector to deploy rooftop solar.

India and the US have been working to enhance building and appliance efficiency through enhanced building codes, design and operation of smart buildings of the future, smart meters and demand side response, as well as retrofit of buildings to improve building performance, promote energy conservation, and improve indoor air quality.

The sides have also been working towards development of a behavioral energy efficiency program and technical assistance for a distributed energy resources plan. The sides are also working to enhance energy efficiency in the industrial sector and will work to advance a comprehensive energy management system in accordance with ISO50001.

In response to the COVID-19 pandemic, USAID and Energy Efficiency Services Ltd (EESL) jointly initiated a new activity, “Retrofit of Air Conditioning to Improve Air Quality for Safety and Efficiency” (RAISE) for healthy and energy efficient buildings. The initiative will be scaled in public sector buildings.

The sides, during the meet, also noted the significant increase in bilateral hydrocarbon trade since the establishment of SEP, with the bilateral hydrocarbon trade touching US$ 9.2 billion during 2019-20, marking a 93 percent increase since 2017-18, and affirmed to promote greater hydrocarbon trade between the two countries.

Through the U.S.-India Natural Gas Task Force, U.S. and Indian industry forged new commercial partnerships on innovative projects and developed a series of policy and regulatory recommendations to support the government of India’s vision to increase the share of natural gas in India’s energy sector. The sides have also held numerous public-private dialogues to provide industry perspectives on challenges and opportunities to trade and investment across the energy sector.

The two sides took note of their governments’ strong commitment to advance their civil nuclear cooperation, and welcomed recent progress on the Westinghouse commercial reactor project at Kovvada, which represents an important milestone in our strategic relationship.

The two sides also agreed to support each other’s vision of national development in the energy sector and encourage investment, including sharing a list of potential projects in which the companies from both sides can be encouraged to invest.