Industry & Economy
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Petroleum
Aiyar for better Indo-Iranian ties in hydrocarbon sector
Our Bureau
New Delhi
,
Dec. 6
THE Union Petroleum Minister, Mr Mani Shankar Aiyar, has called for increased cooperation between India and Iran in the hydrocarbon sector not only for the development of this region, but beyond the shared continent.
Addressing the Iran and Middle East Gas Forum at Tehran on Monday, the Minister said that given the disproportionate importance of fossil fuel in the development of the global economy, what the nations do in the oil and gas sector would decisively have an impact on the larger goal of an Asian resurgence.
According to an official statement, India's demand and Iran's supply potential are such that Iran could easily become our most important supplier and India could easily become Iran's most important buyer not only in oil, but certainly in the area of natural gas.
In many ways, oil is past its hey-day and it is gas that is set to take oil's place of predominance in the ranking of fossil fuels.
It is felt that what petroleum was to the 20th century, natural gas would be to the 21st century, the Minister said.
He pointed out that there is more gas around the soil with many significant end-uses for which gas is an equal or even superior substitute with a better transmission technology using pipelines.
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