Sydney: The developed countries should not exploit energy and power resources of the developing world, but must share the burden and expect a reasonable return on their investment, Minister for Power P M Sayeed said today (Sep 7, 2004).

Delivering the keynote address at the World Energy Congress being held in Sydney, Sayeed pointed out that today more than 60 per cent of energy is consumed by only 20 per cent of the global population i.e. slightly above one billion people account for 60 per cent of the total energy consumption while the remaining five billion people in developing nations consume only 40 per cent.

"The haves should have the generosity to share with the have-nots in the power sector," he said. In India, almost 57 per cent of the rural population does not have access to electricity and in the case of those who do have electricity, reliability and quality are matters of great concern.

"Therefore, if the accessibility of energy is to be appreciated in the global context, the prevailing position in the developed countries would warrant serious consideration."

Sayeed, who is leading a high-level delegation, was chairing a panel discussion comprising Under Secretary General of the UN Department of Economics and Social Affairs Jose Antonio Ocampo; president and CEO of RWE EG, Harry Roels; and Charles Goodyear from Yale and Wharton.

During the four-day visit, the minister and delegates have been having useful interactions with key energy providers and suppliers. Earlier the Minister inaugurated the India Energy Pavilion and launched a publication on the Indian Energy Industry - Destination India.