International Energy Agency
Context: India inks MoU with International Energy Agency to strengthen cooperation in global energy security, stability and sustainability.
- This partnership will lead to an extensive exchange of knowledge and would be a stepping stone towards India becoming a full member of IEA.
- "The Framework for Strategic Partnership between the IEA members and the Government of India was signed on 27th January, 2021 to strengthen mutual trust and cooperation & enhance global energy security, stability and sustainability.
- The IEA Secretariat will be responsible for implementation of the cooperative activities in India and for facilitating discussion between the IEA members and India to further develop the strategic partnership.
International Energy Agency
- It is a Paris-based autonomous intergovernmental organisation established in the framework of the Organisation for Economic Co-operation and Development (OECD) in 1974 in the wake of the 1973 oil crisis.
- The IEA was initially dedicated to responding to physical disruptions in the supply of oil, as well as serving as an information source on statistics about the international oil market and other energy sectors.
- The IEA acts as a policy adviser to its member states, but also works with non-member countries, especially China, India, and Russia.
- The Agency's mandate has broadened to focus on the "3Es" of effectual energy policy: energy security, economic development, and environmental protection.
- It publishes the World Energy Outlook
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