Kuwait offered equity in Dahej, Paradip projects

Sujay Mehdudia

CANCUN (MEXICO): India can emulate the U.S. success in utilising shale gas to significantly augment its natural gas production, U.S. Deputy Secretary of Energy Daniel Poneman said here on the sidelines of the energy forum.

India's Petroleum and Natural Gas Minister Murali Deora held a series of bilateral talks with countries like Kuwait, Mexico and Indonesia besides the U.S.

While seeking more oil from Kuwait for its refineries whose capacity is being raised from 180 million tonnes to 250 million tonnes soon, Mr. Deora offered Kuwait a stake in Oil and Natural Gas Corporations's Rs.12,440-crore petrochemical plant at Dahej in Gujarat and the Indian Oil Corporation's proposed chemical unit at Paradip.

Marketing support

Mr. Deora during his interaction with his Kuwati counterpart Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah offered a stake in the mega petrochemical plants being built on the west and east coasts.

ONGC is keen to get an overseas major who can either bring technology or marketing support for its Dahej plant that would be built by February 2012.

Chemical complex

ONGC holds 26 per cent stake in ONGC Petro-additions Ltd., the special purpose vehicle formed for setting up the chemical complex at the Dahej Special Economic Zone. Five per cent stake is with the Gujarat State Petroleum Corporation and GAIL (India) has 19 per cent. A foreign firm may be given 20-25 per cent.