NEW DELHI: External Affairs Minister Pranab Mukherjee on Tuesday said sustained efforts were needed to develop new, alternative and renewable sources of energy at an affordable cost to ensure that the current accelerated economic growth process was not constrained by paucity of energy.

At the same time Mr. Mukherjee said the efforts of the United Progressive Alliance Government were directed towards attaining energy security for the country.

Speaking at the inauguration of Petrotech-2007, the 7th International Oil and Gas Conference and Exhibition Conference at Vigyan Bhavan here, Mr. Mukherjee said the primary objective was to put in place a sustained policy to strengthen the energy sector and its prime focus would be petroleum and natural gas. He said the country had already intensified indigenous exploration, bringing in more "equity oil" from overseas and tapping new areas such as coal gasification. The Government's policy pertaining to the energy and hydrocarbon sectors prioritised the need for an integrated energy policy linked with sustainable development, he added.

Mr. Mukherjee said efforts were being made to develop new, alternative and renewable low cost energy sources. Wind, solar, geo-thermal, biomass, hydrogen, and nuclear energy sources were at various stages of development. All these steps were essential to ensure that the economy, growing at an impressive rate of 8-9 per cent annually, achieved the target of a double-digit growth rate within five years.

Speaking on the occasion, Union Minister for Petroleum and Natural Gas Murli Deora said the reduction in crude oil prices from over $70 a barrel to the present levels was a welcome relief for India and other oil importing countries. India had put in place a multi pronged strategy, including faster exploration and acquisition of oil fields abroad, to secure energy at affordable rates, he said. "We have made substantial progress in restructuring the petroleum sector with a conscious and determined policy shift to a competitive market economy, including increasing private sector and international participation in all-important segments of the industry," Mr. Deora added.

He said this year the Government would implement a 5 per cent ethanol blended petrol policy by procuring an estimated 550 million litres of ethanol. "We plan to enhance this programme to 10 per cent blend shortly."

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