1st ‘India Indonesia Energy Forum’ was held in Jakarta, Indonesia. Union Minister for Power Piyush Goyal and Minister of Energy of Indonesia, Mr. Ignasius Jonan met on this occasion.
Both sides have agreed to explore cooperation in number of areas such as upgrading of refineries in Indonesia, relocation of gas-based plants from India to Indonesia, sharing of experience in use of LEDs and renewable energy in India, sharing the expertise of Indonesia in gasification of fuel oil, exploration of oil, gas and coal fields.
Shri Goyal requested Minister Jonan to consider joining International Solar Alliance as Indonesia is solar-rich country. He also requested Minister Jonan to revisit changes in policy in coal sector and work visa.
A Memorandum of Understanding between the Indian Ministry of Petroleum and Natural Gas, and the Ministry of Energy and Mineral Resources of Indonesia on cooperation in the field of Oil and Gas was signed on the occasion. The MOU seeks to establish a cooperative institutional framework to facilitate and to enhance bilateral cooperation in the field of oil and gas sectors on the basis of equality and mutual benefit.
India is third largest importer of coal from Indonesia. India’s imports of coal from Indonesia amounted to US$ 3.5 billion in 2016.
Several Indian companies have invested in coal mines in Indonesia. The bilateral trade between two countries stood at US$ 15.90 billion in 2015-16 with Indonesia’s export to India amounting to US$ 13.06 billion and India’s exports to Indonesia amounting to US$ 2.84 billion.
There is an agreed understanding on both sides to increase the exports from India to Indonesia to improve the trade balance.
The Energy Forum was preceded by 2nd Joint Working Group (JWG) on Oil and Gas, 4th Joint Working Group on Coal and 1st Joint Working Group on New and Renewable Energy. The reports of three Joint Working Groups were presented to two Ministers during the Energy Forum.