Capital allocation across fuels key to energy security
Policy reforms, global partnerships drive investment outlook
New Delhi, Jan 27 India’s energy transition must focus on expanding overall energy supply rather than replacing existing sources, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said on Tuesday, calling for sustained capital allocation across conventional and emerging energy segments.
Speaking at India Energy Week (IEW) 2026 in Goa, Puri said investments across oil and gas, LNG, biofuels, green hydrogen and clean cooking fuels are critical to ensuring energy security, affordability and economic stability.
Goa, the host state, presented a long-term roadmap to achieve 100 per cent renewable energy by 2050, reflecting India’s parallel approach of scaling clean energy while maintaining conventional supply.
Puri highlighted policy reforms aimed at improving investment attractiveness, including the opening of large sedimentary basins for exploration and multiple bidding rounds under the Open Acreage Licensing Policy (OALP) and Discovered Small Fields (DSF) programme.
UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO Sultan Ahmed Al Jaber warned that underinvestment poses the biggest structural risk to the global energy system, advocating balanced capital deployment across energy forms to maintain security and price stability.
Al Jaber noted that global energy demand is entering a phase of structural transformation, driven by growth in emerging markets, digitalisation and increasing system integration.
He said India Energy Week has emerged as a credible global platform for dialogue among policymakers, producers, consumers, technology providers and investors at a time of heightened volatility in energy markets.
Puri said India’s expansion of LPG coverage, wider access to clean cooking fuels and diversification of its energy mix demonstrate a focus on inclusive growth alongside market-led reforms.
A ministerial panel at the event discussed the need for pragmatic regulation, long-term investment visibility and stronger international partnerships to manage global energy volatility.
Reiterating India’s plan to increase the share of natural gas in its energy mix, Puri emphasised the role of global collaboration, capital inflows and realistic transition pathways.
Canada’s Minister of Energy and Natural Resources, H.E. Tim Hodgson, said Canada is keen to expand cooperation with India in LNG, critical minerals, crude oil supplies and long-term energy trade.
