Diplomacyindia.com

India invites Australia Inc. to invest in hydrocarbon sector

India invites Australia Inc. to invest in hydrocarbon sector
January 12
22:58 2015

New Delhi, Jan 12 The government Monday invited Australian companies to invest in India’s hydrocarbon sector, the petroleum ministry said here.

The invitation was extended by Petroleum Minister Dharmendra Pradhan at the India-Australia Business Summit being attended by a large Australian trade delegation led by Minister of Trade and Investment Andrew Robb.

“We whole-heartedly welcome Australian investments in India’s upstream, midstream and downstream sectors of the oil and gas industry. India permits 100 percent FDI in the upstream exploration sector and we urge Australian companies to invest in India’s hydrocarbon business,” he added.

Pointing out that oil and gas featured among the 25 sectors that were shortlisted for the Make in India initiative, Pradhan said the natural gas infrastructure and city gas distribution sector are going to see significant expansion in coming years and another 15,000 km of natural gas pipeline added to the country’s network.

“ONGC Videsh (overseas arm of Oil and Natural Gas Corp) would be interested in any exploratory or discovered E&P (exploration and production) asset that might be available in Australia,” the minister said.

“Major Indian companies like GAIL, BPCL, HPCL and IOCL would be keen to secure equity participation in Australian LNG (liquefied natural gas) projects and to source LNG from various planned and upcoming LNG projects in Australia,” he added.

Pradhan also said that Indian companies would be interested in tie-ups with Australian firms for exploration of Coal Bed Methane (CBM) in India, Australia and elsewhere.

Observing that his country can help India achieve energy security, the Australian minister cited the Adani Group’s project in Queensland province which would yield about 60 million tonnes of coal per annum.

According to a CII statement, Robb also mentioned that Australia could help India diversify its energy basket by providing access to fuels such as LNG.

State-run Petronet LNG Ltd has executed a long term sale-purchase agreement for sourcing 1.44 million tonnes per annum of LNG from the Gorgon LNG Project in Western Australia. Bharat Petroleum, GAIL and Indian Oil are the offtakers in this project, the petroleum ministry said.

Share

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

<

On the Eve of 30th Years of Independence of Republic of Uzbekistan, H.E. Dilshod Akhatov, Ambassador of Uzbekistan to India in conversation with Ameya Sathaye, Editor-in-Chief.

Denmark Ambassador to India Freddy Svane in conversation with Amb Pradeep Kapur & Ameya Sathaye, Editor-in-Chief

Italy india will work closely together for G20 : Italy Envoy to India

Do you know why FINLAND is ranked number ONE in Happiness index, watch this interview with Finland Ambassador to India

Exclusive Interview : H.E. Jasem Ibrahem Al Najem Ambassador of Kuwait to India speaks on India Kuwait bilateral relations

ड्रैगन ने हाथी को क्यों डसा, भारत- चीन रिश्तों की कहानी- रंजीत कुमार के साथ अमेय साठे की विषेष चर्चा ड्रैगन ने हाथी को क्यों डसा, भारत- चीन रिश्तों की कहानी- रंजीत कुमार के साथ अमेय साठे की विषेष चर्चा 0 comment Read Full Article

H.E. Reuben Gauci, Ambassador of Malta to India speaks on India-Malta Bilateral Relations

Portugal supports India in covid crisis : Portugal Ambassador Carlos Pereira Marques speaks with Ameya Sathaye, Editor-in-Chief

Vietnam Ambassador to India, Pham Sanh Chau speaks on Vietnam support to India in tackling covid crisis

Netherlands supports India in covid crisis : Netherlands Ambassador Marten van den Berg speaks with Ameya Sathaye

Envoy Speaks : Gopal Baglay, Indian High Commissioner to Sri Lanka speaks on Bilateral relations, business opportunities, Tourism & people to people to people contacts

Kuwait reciprocates, we stand with India in this hour of crisis : Kuwait Ambassador to India

Canadian High Commissioner, Nadir Patel speaking on support to India in covid crisis

Italian Ambassador to India, Vincenzo de Luca speaking on Italy support to India in covid crisis

H.E. Mr. Reuben Gauci, Malta High Commissioner to India speaks with Ameya Sathaye, Editor-in-Chief of Malta support to India in covid crisis

Danish Ambassador to India Freddy Svane speaking on Denmark aid to India

Video Interview with Vinod Daniel, CEO, India Vision Institute, Board Member, International Council of Museums & Chairman, Ausheritage

DENMARK AMBASSADOR FREDDY SAVNE VISIT TO CORONOVIRUS VACCINE FACILITY AT HYDERABAD, A TRIP ORGANISED BY MINISTRY OF EXTERNAL AFFAIRS, GOVT OF INDIA FOR FOREIGN ENVOYS BASED IN INDIA.

MALTA HIGH COMMISSIONER TO INDIA, H.E. REUBEN GAUCI SHARING HIS IMPRESSION ABOUT HIS VISIT TO HYDERABAD : TRIP ORGANISED BY MINISTRY OF EXTERNAL AFFAIRS, GOVERNMENT OF INDIA FOR ENVOYS BASED IN INDIA TO UPDATE ON CORONAVIRUS VACCINE

H.E. Mr. Dinesh Bhatia, Ambassador of India to Argentina in conversation with Ameya Sathaye, Editor-in-Chief

Pictures of Formal Launch of Website Diplomacyindia.com

Exclusive Interview with Prime Minister of Guyana, H.E. Mr. Moses Veerasammy Nagamootoo during his recent visit to India.Highlights of the interview were Indian Cultural Connect, Vibrant Bilateral Ties and Cultural Connect and India’s Economic Prowess.

Video Message from Shri Prakash Javadekar, MoS (IC) for Forest, Environment & Climate Change on eve of Formal Launch of Website Diplomacyindia.com

Message from Gen. V K Singh, (Retd.) Hon’ble MoS, External Affairs to Diplomacyindia.com

WP2Social Auto Publish Powered By : XYZScripts.com