Towards a broader definition of 'energy security' for a growing India

摘要

India is the fourth-largest energy consumer in the world, with an annual primary energy consumption of over 700 million tonnes oil equivalent (Mtoe). It could soon also become the world's largest energy importer. Estimates from McKinsey & Company suggest that by 2030, in a 'business as usual' scenario, India will consume over 1,500 Mtoe of primary energy each year, and will need to import over 50 per cent of this requirement. Not surprisingly then, energy supply security is high on the agenda of Indian policymakers and industry. Opportunities to supply India have also caught the attention of global energy exporters looking for stable markets, especially as surpluses in oil and coal grow.