PM urges political parties to appreciate Indias energy security strategy

Prime Minister Manmohan Singh today urged all political parties to appreciate pursuing a sound energy security strategy, saying it is in the national interest.

New Delhi, Aug 20 : Prime Minister Manmohan Singh today urged all political parties to appreciate pursuing a sound energy security strategy, saying it is in the national interest.

"India is on the move, and we must be able to address its growing energy demand. No government can afford to shirk this responsibility and hope to find favour with the people," Singh said after laying the foundation stone for the Rajiv Gandhi Urja Bhavan here.

From a long-term perspective, Singh said nuclear energy and solar energy can play an important role in addressing our energy security needs.

"Our government is committed to the development of nuclear energy," he added.

Recognizing the critical importance of India's energy needs, which will grow with the pace of economic development, he said it cannot be met with oil and gas for long.

"Currently, the total domestic production by Indian companies is less than 1/3rd of current domestic consumption," he added.

Informing that oil and gas reserves in India are quite limited, Dr. Singh said: "Our growing import bill for imported crude oil will put unbearable burden on our economy."

These facts compel us to think of a new strategy to deal with the rising energy demand, he added.

Stressing on the need to have a new paradigm of energy security to address ourevelopmental needs, he said this paradigm would have to focus on several issues.

"These issues are a less-energy intensive path of development, increasing use of non-conventional and renewable energy sources, also aimed at reducing carbon emissions, and improving efficiency in production and consumption," he added.

Such a strategy would have to be based on coordinated development andudicious use of domestic and global resources, the Prime Minister said.

ANI