India, Kazakhstan resolve to take their energy ties to the next level

India and Kazakhstan have stepped up effort to increase their collaboration in the field of hydrocarbons and there has been a “satisfactory progress” on the Satpayev block in which ONGC Videsh is working with Kazakh state energy company KazMunaiGaz, Petroleum Minister Dharmendra Pradhan said on Wednesday. Both the countries are also working to transport Kazakh oil and gas through <g data-gr-id="30">pipeline</g>.

“There has been satisfactory progress on this project. We expect exploratory drilling to commence early next month.  Both sides are keen to expand our cooperation in the area of hydrocarbons. 

 Various proposals are currently under discussions between the two sides. We also agreed to conduct a feasibility study on transportation of crude oil and gas from Kazakhstan to India via pipeline or as LNG,” he said in a joint press meet with visiting Kazakh Energy Minister Vladimir Shkolnik. 

Both sides are keen to expand their cooperation in the area of hydrocarbons.

“We have had extremely friendly, substantive and productive discussions covering all aspects of bilateral relations between India and Kazakhstan,” he said after conclusion of the 12th meeting of the India-Kazakhstan Inter-Governmental Commission on Trade, Economic, Scientific, Technical Industrial and Cultural Cooperation, in which Shkolnik also participated. The central Asian nation plans to supply energy resources to a growing Indian economy, said Shkolnik. Both the countries reviewed developments since the last meeting of IGC in Astana in April 2014 and also discussed various ideas and proposals to further strengthen our bilateral relationship. 

Cooperation in the energy sector was a major focus of deliberations between both the leaders.  “We also reviewed developments in trade and investment.  It was decided that we would work together within the framework of the Joint Study group to consider the feasibility of a comprehensive economic partnership agreement between India and the Eurasian Economic Union, of which Kazakhstan is a member,” the Minister said.  

The Kazakh Minister for Investment has just concluded his visit to India during which he interacted public and private sector companies. 

“We had very useful discussions on transport and logistics linkages.  India and Kazakhstan have decided to establish a Joint Working Group on connectivity which would look at all aspects of this issue.  With the opening of the rail link between Iran-Turkmenistan and Kazakhstan, we will explore the possibility of this route being developed as a linked corridor to the International <g data-gr-id="33">North South</g> Transport Corridor (<g data-gr-id="32">INSTC</g>),” Pradhan said.