World faces energy crisis of ‘unpredictability’, not production: EAM Jaishankar at G20

Atlanta: External Affairs Minister S. Jaishankar told the second plenary session of the G20 Foreign Ministers’ Meeting in Atlanta that the world is facing an energy crisis caused by disruption, high costs and barriers to access rather than by any shortfall in production.

“Underlined that the world today stares at an energy crisis, not of production, but of unpredictability & disruption, unaffordable costs, and challenges of access,” EAM Jaishankar posted on X on Friday after speaking at the session.

He said he “Highlighted that deliberate attacks on energy trade & energy infrastructure are a calculated strategy to hold energy prices hostage.”

The minister also “Emphasised that continuous distortions of energy markets through obstacles, sanctions & chokepoints are happening with increasing frequency, greater complexity & wider impact.”

Turning to poorer nations, he “Underscored that there appears little regard for the predicament of low-income countries.”

In one of his sharpest remarks, EAM Jaishankar “Stressed that convenient distinctions are being drawn between oil and gas. Selective carveouts speak for themselves.” He did not name any country or specify the carveouts he was referring to.

“Reiterated that the knock-on effects & mutual dependence in a globalised market should not be underestimated.”

On India’s own needs, EAM Jaishankar “Reaffirmed that India needs reliable and predictable LPG supplies for its clean cooking needs.”

He also “Reiterated that India’s National Mission on critical minerals spans exploration to recycling. India has also proposed a G20 Critical Minerals Circularity Initiative.”

“The G20 must display both understanding and leadership to keep energy markets open & predictable,” EAM Jaishankar posted.

“It must widen access to finance and advance storage, small modular reactors, green hydrogen and bio fuels,” he added.

The second plenary followed the opening session earlier on Friday, where EAM Jaishankar said in a separate post that he had “Emphasised that in the face of global challenges, military solutions will not work and diplomacy must be given a chance.”

In that session, he also said the “Global South is disproportionately bearing the consequences of attacks on civilian shipping and seafarers, jeopardising the availability and cost of fuel, food and fertilizers.”

The two-day meeting is being hosted by US Secretary of State Marco Rubio and concludes on Saturday.

ABOUT THE AUTHOR

IANS

[email protected]