The recently established US-India Gas Task Force is designed to help India unleash its own natural gas potential, US Energy Secretary Rick Perry said today.
The recently established US-India Gas Task Force is designed to help India unleash its own natural gas potential, US Energy Secretary Rick Perry said today. “I traveled to India earlier in the year, where we established a joint US-India Gas Task Force. It is a strategic partnership with the private sector, and it’s designed to help India unleash its own natural gas reserves,” Perry said in his address to the first Indo-Pacific Business Forum organized by the US Chambers of Commerce.
“They have some substantial reserves there, and certainly bolstering their energy security, and creating a range of US commercial opportunities from just our natural gas, the molecules going there, coal, obviously the infrastructure that’s going to be built, the innovation comes with all of that,” he said. Perry has asked Undersecretary of Energy Mark Menezes to oversee this development with India.
The US, he said, is now the world’s leading producer of oil and natural gas. “We are setting and regularly breaking records for oil and natural gas production, and we’re exporting LNG to 30 countries now on five continents,” he said. Noting that last week, he had the opportunity to attend the dedication of the Cove Point LNG plant, Perry said it is a notable development since the International Energy Agency forecast that US will account for nearly three quarters of the world LNG export growth between now and 2023. “This is some stunning information and stunning news for the energy world, especially important for Asia, India and Japan, as they are contracted customers of Cove Point, and our exports will build, obviously, on that strong energy strategy,” he said.
Perry said the US is in the process of developing a whole-of-government, a multiyear, multimillion-dollar framework for its energy efforts in the region. This is being called ASIA EDGE, or ‘enhancing development and growth through energy’. “ASIA EDGE will focus on four areas, including expanding energy commerce, advancing markets based on energy policies and market reforms, catalysing private capital for the financing of export and investment projects, and fourthly, promoting universal access to affordable, secure and reliable energy supplies,” Perry said.
“The initiative will advance American interests, even as it drives economic growth in Asia, and interestingly, is happening at a time when our nation is at this just incredible place, relative to energy progress,” he said. “Due to this cascade of technological advancements that are driven by innovation, we’re producing this abundant affordable energy from a wider array than we ever thought possible, and we’re using this energy more cleanly and more efficiently, as well,” Perry said. The US is looking to promote greater commercial cooperation in the nuclear energy side of things. To that end, Deputy Secretary Dan Brouillette, is traveling to Japan within the next week to participate in the first US-Japan bilateral industry forum on nuclear facility decommissioning, he said.
“We are strongly committed to supporting the cleanup and decommissioning efforts in Japan, and that forum is going to give us some real opportunities for US companies there. They are going to be talking about what’s next in the nuclear energy side and small modular reactors,” he said. “A lot of countries are looking at that — Japan in particular, India is going to be a source of opportunity there for and the technology that is coming out of our national labs and our private sector working in partnership,” Perry said, adding South Korea and Taiwan are also moving towards decommissioning some of their nuclear reactors.