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India-Saudi reviews oil & gas cooperation between them

By TIOL News Service

NEW DELHI, NOV 02, 2017: ASIA has some of the largest producers as well as the largest consumers of energy. The 7th Asian Ministerial Energy Round Table was organised by International Energy Forum (IEF). The Minister of Petroleum & Natural Gas, Mr. Dharmendra Pradhan concluded 2-day visit to Bangkok today where he participated in the 7th Asian Energy Minister's Round Table. Mr. Pradhan held a detailed bilateral meeting with the Saudi Energy Minister Mr. KHALID AL-FALIH. The Saudi Minister congratulated for India gaining 30 positions in World Bank Ease of Doing Business index. The two Ministers reviewed entire gamut of oil and gas cooperation between the two countries.

Speaking at a plenary session on Natural Gas, Mr. Pradhan highlighted the importance of overcoming market and policy hurdles and move to a flexible, transparent and non-discriminatory global LNG trading regime which would expedite ushering in the golden age of gas. He also highlighted efforts of the government to move to a gas based economy and the avenues for FDI in building infrastructure for gas including LNG terminals, pipelines, CGD. He highlighted the unprecedented leap of 30 places made by India in the ease of doing business and also how PM Ujjwala Scheme can be a model to be adopted in developing countries of Asia and Africa.

India is the current Chair of the IEF which is the largest inter-governmental organisation in the field of oil and gas comprising 72 member countries, accounting for 90% of global supply and demand of oil and gas. Members include developing, developed, OPEC, Non-OPEC and G20 countries. 18 of the G20 countries are members of IEF. During the visit, Mr. Pradhan met his counterparts from Saudi Arabia, UAE, Qatar, Thailand, Bahrain, Brunei, Bangladesh, Myanmar, Kuwait, Yemen and other countries.

Mr. Pradhan met Mr. U WIN KHIANG, Minister of Energy and Electricity of Myanmar. He expressed keenness to closely collaborate with India and learn from Indian experience on meeting consumer requirement of petroleum products. Mr. Pradhan invited the Ministerial counterparts to attend the IEF Ministerial meeting which India will host in New Delhi on April 10-12, 2018. The event is expected to be attended by above 50 energy ministers, heads of international organizations like OPEC, IEA, IGU and CEOs of Global oil majors. This would be the largest congregation in the oil and gas sector at the Ministerial level.


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