India is in talks with Persian Gulf nations, including Qatar, for increased supplies of LNG and with Kuwait and Saudi Arabia for additional supplies of crude oil, Union Petroleum and Natural Gas Minister Jaipal Reddy said.
Addressing the delegates of the 20{+t}{+h} World Petroleum Congress at Doha, Mr. Reddy said India required additional energy sources to match its growth. “Wherever there is an opportunity for LNG, crude oil or any other sources, we ask for more supplies,” he said.
Mr. Reddy also held bilateral talks with Mohammed Bin Hamad Al Rumhy, Oman's Minister of Oil and Gas, on additional supplies of LNG. He was accompanied by Petroleum Secretary G. C. Chaturvedi and senior officials of the oil marketing companies. Both the sides discussed the issue of possible investment by Oman in projects in India. India also expressed interest in Oman's downstream projects, consultancy and management, upstream opportunities and gas supply to India. Mr. Reddy also talked about making investments in the LNG plants in Oman. In addition, Mr. Reddy held talks with Kuwaiti officials to discuss the issue of supplying two lakh barrels a day of additional crude oil under long-term contracts by Kuwait Petroleum Corp. At present, the state-run oil company provides India about four lakh barrels a day under long-term agreements.
About the New Exploration Licensing Policy (NELP), the Minister said that the process for award of exploration blocks under the IX bid round would be concluded soon. He said India was looking for long-term sourcing of LNG. “Our companies are also looking for investment opportunities in LNG plants in producer nations. Qatar has been our long time partner country in this area. We are keen to have more such relationships,” he said.
