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Apr 16, 2013

India, Finland to Explore Solar Energy Applications for Oil & Gas Projects

image India-Finland have identified several key areas of collaboration in sustainable development for mutual benefits in the oil & gas sector. This includes specific projects in Solar Energy applications for Oil & Gas Projects, Biofuels & Algae based biofuels research and water and waste water management. Other areas indentified are Carbon capture & reformation, Finland`s Green Growth & Groove programme for suitable application to Indian Scenario and Academic Institutions/Universities for collaborative R&D projects in areas of low carbon growth technologies and sustainable development.

This emerged at meeting between the delegations of two countries led respectively by Lakshmi Panabaka, Minister of State, MoPNG Government of India and Marja Rislakki, State Secretary, Ministry of Employment & Economy of Finland. Along with 14 members from Finland, the meeting was also attended by senior officers MoPNG and ONGC among others. Based on above broad areas of collaboration, a Memorandum of Understanding (MoU) can be taken up between MoPNG and Govt. of Finland in future. 

The two sides underlined that collaboration between MoPNG & Finland Govt can be in the area of sustainable development for mutual benefits in accordance with the agreement, respective laws and regulation of the both countries. On the side of Finland, its organisation named Finnpartnership, aims to increase commercial cooperation with developing countries to enhance economic growth, diversify the economy and exports, and reduce poverty in developing countries.

During Nov 2012, a Finnish Government delegation led by Ms. Mari Pantsar-Kallio, Strategic Director, Cleantech, Ministry of Employment and the Economy (MEE) during visit to Renewable Energy expo, had also discussed with ONGC areas of Finnish competencies in the field of Carbon Management, Clean energy, and Energy efficiency, Sustainability & Sustainable Development for cooperation

Sustainable development drives value creation. Enhanced performances in the related areas help lower costs; improve operation efficiency, profitability & environmental performance.