— Photo: S. Subramanium

U.S Energy Secretary Samuel W. Bodman addressing the members of the FICCI in New Delhi on Tuesday.

NEW DELHI: U.S. Energy Secretary Samuel W. Bodman on Tuesday described the Indo-U.S. civil nuclear agreement as "a major opportunity'' in synergising India's scientific talent and creativity and the U.S. advancement in technology, safety and security in the development and use of nuclear energy.

Addressing a meeting organised by the Federation of Indian Chamber of Commerce and Industry, Mr. Bodman said: "We should continue the negotiations on the civil nuclear agreement and push forward with the necessary next steps.''

Alternative sources

He called for diversification of the energy portfolios by expanding the use of alternative and renewable sources. Diversification towards alternatives could greatly relieve pressure on markets for conventional sources overtime while also addressing environmental concerns. "There are myriad technologies — solar and wind energy, hydrogen and bio-fuels — but the key is to increasing both their availability and cost-competitiveness. This is the core of President Bush's Advanced Energy Initiative, which focuses on accelerating the commercialisation of promising technologies," he said.

Mr. Bodman said a major component of any clean energy strategy must be nuclear power. "I strongly believe that the civil nuclear agreement currently under negotiation is good for India, is good for the United States, is good for our mutual energy security and is good for the global non-proliferation system,'' he added

Elaborating on the key opportunities for expanded cooperation in the energy sector, Mr. Bodman highlighted the development of India's domestic oil and natural gas reserves — including offshore sites — as well as coal-bed methane and, especially, clean coal technologies. "U.S. and India share a heavy reliance on coal for electricity generation and so I am extremely pleased that India is a partner in the FutureGEN project. FutureGEN will work to create a near zero-emissions coal-fired plant that will produce hydrogen and sequester CO2 underground," he said.

In order to increase global access to conventional fuels, he felt there was a need for stable regulatory frameworks, open investment climate, adherence to the rule of law and market-based pricing of energy resources. India, he said, could not continue to fuel its economy without heavy investment in energy diversification and infrastructure, including foreign investment.

"This is one area where we are not living up to the potential of our relationship," he remarked.

Five major goals

He said the Indo-U.S. energy cooperation should envisage five major goals — diversification of the available supply of conventional fuel and expansion of production; diversification of the energy portfolios by expanding the use of alternative and renewable sources; efficiency and conservation measures; taking steps to improve the environment to reduce pollution and emissions, maintaining the global energy supply system and protecting critical energy infrastructure to ensure a more resilient, secure and less volatile market.

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