Financial Daily from THE HINDU group of publications
Tuesday, Apr 12, 2005
Financial Daily from THE HINDU group of publications Tuesday, Apr 12, 2005 |
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Industry & Economy
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Petroleum Aiyar seeks investments from Chinese oil majors Our Bureau
New Delhi , April 11 INDIA on Monday sought greater collaboration between the oil majors of India and China for building greater energy security. Speaking to presspersons here, the Union Petroleum Minister, Mr Mani Shankar Aiyar, said, "There has been no separate detailed consideration of energy cooperation between India and China, but in my interactions with the Chinese officials, I raised the issue of extending Iran-India gas pipeline to South China via Myanmar". The 2,600-km gas pipeline, which India is pursuing for gas imports from Iran through Pakistan, would land in Rajasthan. The pipeline is proposed to travel through the heart of India and into Myanmar via Bangladesh and then travel to China. Any supply disruption to India would mean the fuel supplies are also cut to China. Therefore, such an arrangement would guarantee greater stability to the project, the Minister said. He also invited Chinese oil majors to invest in oil and gas exploration, refining and research and development in India. India and China could also collaborate in their search for oil and gas fields abroad, he said. "We have the option to compete or collaborate with one another to secure better deals," he said adding Indian firms could look at investing in China, he said.
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