The Hindu Business Line : India for buying LPG on term contract from Algeria

Forging relations
ONGC has offered to give training to the Algerian oil sector personnel in diverse areas.
IOC has offered to work together with Algerian companies in the areas of refinery upgradation, bitumen formulations etc.

MR MURLI DEORA

New Delhi April 22

India has expressed its keenness to have an arrangement to purchase liquefied petroleum gas (LPG) from Algeria on term contract basis besides pursuing opportunities in other areas of hydrocarbon sector for mutual benefit.

This was proposed by the Petroleum and Natural Gas Minister, Mr Murli Deora, who is leading a high-level delegation to Algeria, when he called on the Prime Minister of Algeria, Mr Abdelaziz Belkhadem, today. Algeria has large exportable surplus of LPG while India is a large importer of the product.

Strategic Relations

According to an official release issued here, in an hour-long meeting, Mr Deora conveyed India's strong desire to strengthen the friendly relations between India and Algeria particularly in oil and gas sector. The Algeria Prime Minister emphasised the need for forging strategic relations in hydrocarbon domain in the backdrop of longstanding friendship between the two countries.

Earlier, during delegation level talks, Mr Deora hoped that the present discussions would lead to expanding hydrocarbon co-operation between the two countries. He referred to the presence of Engineers India Ltd (EIL) in Algeria for the past 25 years.

Existing Pipeline

GAIL (India) Ltd expressed its interest to participate in a major project on the anvil, the envisaged Trans-Sahara gas pipeline project linking Nigeria to Algeria and onwards to the European market through existing pipeline network. The company also offered pursuing equity in LNG infrastructure and in compressed natural gas projects in Algeria for which they are prepared to work closely with the local agencies.

In upstream sector, India conveyed that Indian oil PSUs are open for joint bidding with national oil companies of Algeria in their upcoming seventh round of bidding during 2007. ONGC expressed interest in working jointly with Sonatrach through the two memoranda of understanding already signed with them.

Consultancy Services

ONGC also offered to give training to the Algerian oil sector personnel in diverse areas covering reservoir management and seismic studies.

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