Prime Minister Manmohan Singh will on Tuesday inaugurate premier natural gas event, the 8th Asia Gas Partnership Summit (AGPS) in New Delhi.

The event is being organised by gas utility GAIL (India) Ltd and Federation of Indian Chambers of Commerce and Industry (FICCI).

The 8th AGPS “will bring together a host of industry leaders from across the globe over two days and is expected to witness the participation of over 46 speakers from 16 countries and more than 800 delegates,” GAIL said in a statement.

Among the foreign dignitaries at AGPS are Minister of Oil and Gas Industry and Mineral Resources of Turkmenistan, Muhammetnur Halylov.

“The two-day conference with the theme ‘Asian Gas Market: Challenges and Opportunities in the Changing Paradigm’ will have six business sessions and a special session and feature some of the best speakers and experts in their areas,” it said.

The inaugural session will be followed by the theme session which will be chaired by Oil Minister M Veerappa Moily and the speakers will Halylov, Petroleum Secretary Vivek Rae, International Energy Agency Executive Director Maria Van Der Hoeven and International Gas Union President Jerome Ferrier.

During the other sessions, deliberations will take place on some of the significant issues of the industry including ’Understanding the Asian Gas Market: Global Consumers’ & Producers’ Perspective’, ‘Commercial & Operational Implications of Evolving Gas Trade’, ‘LNG Shipping -- Current State & Future Developments’, ‘Emerging Gas Sources: Implications for Asian Gas Markets’ and ‘Asian Gas Market in the Global Context’

The other major features of the event are Master Classes on LNG Shipping and LNG Trading, Pricing & Hedging Strategies.

“The theme of the 8th AGPS reflects the increasing demand for cleaner and more cost-efficient sources of energy due to high economic growth in the Asian economies,” the statement said.

The demand in the region is expected to increase at a CAGR of 4.2 per cent and reach nearly 1,111 billion cubic meters by 2035 from the current level of around 450 bcm.

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