Saturday, October 29, 2011

India and Qatar Identify Areas for Coopration in Oil & Gas Sector
Qatar Offered Stakes in Upcoming Petrochemichal Projects of Oil PSUS
Possibility of LPG and Condensates Imports Discussed

Shri S. Jaipal Reddy, Minister of Petroleum & Natural Gas has sought additional quantities of crude oil and LNG from Qatar. He also invited investments from Qatar in the upcoming petrochemical projects of the oil sector PSUs. Speaking at meeting here today with Dr. Mohammed bin Saleh Al-Sada, Minister for Industry and Energy of Qatar, Shri Reddy emphasised that such investments will be a win-win proposition for both the countries. He pointed of that India is looking for strategic investors for some of these project which include petrochemical complexes at Dahej and Manglore, and LNG import terminal at Ennore.

The Qatari Minister reiterated Qatar’s commitment to India to not only supply LNG under existing contracts but also additional quantities for which discussions are going on. He offered to supply LPG and crude oil condensates which can be processed to produce white fuels like Petrol, Kerosene, ATF and Naphtha.

The two Ministers stressed the need for expediting the process of evaluating the present opportunities for mutual cooperation in the hydrocarbon etc. Shri Reddy expressed the hope that some of these deals would near fruition by the time of the World Petroleum Congress at Doha in the month of December 2011.

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