India will strengthen its cooperation with China on
seven areas in energy, said visiting Indian Petroleum and Natural
Gas Minister Mani Shankar Aiyar in Beijing on Thursday.
The two countries signed
five memoranda on energy cooperation the same day. Mr. Aiyar arrived
in Beijing on Jan. 10 for a three-day visit to China.
According to Mr. Aiyar, the
full spectrum cooperation will firstly involve in upstream
exploration and production, building joint ventures on seismic
warning and oil and gas exploration. Secondly, there will be
cooperation on prospecting and petrochemical production and
marketing. The third area is the transmission of gas and urban gas
supply.
The two sides will also
joint hands on domestic and cross-border oil pipelines,
unconventional oil and gas resources, the innovation and development
of energy technologies, and software and information technology in
energy sector.
Mr. Aiyar said China plays
an important role in promoting cooperation in energy and energy
security among Asian countries. He also stressed the great potential
of collaboration on bio-energy between China and India.
Mr. Aiyar's visit to China
has been in the spotlight of the Chinese media. Insiders in the
energy industry regard his visit as an implication of India's
interest in strengthening cooperation with China. 76 percent of
India's oil depends on imports and India's total imports are largely
oil.
India lost biddings
to its Chinese competitor CNPC for some overseas oil sources in 2005, including
the competition for PetroKazakhstan last October. India
then began to seek for cooperation with China on energy. India's Oil
and Natural Gas Corporation Limited (ONGC) jointed hands with China
National Petroleum Corporation (CNPC) won the bid for
Petro-Canada's stakes in Al-Furat Petroleum Company in Syria at the end of
last year. |
Source: People's Daily Online |
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