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India & Norway plan joint oil & gas exploration drive

India & Norway plan joint oil & gas exploration drive
They discussed bilateral relations between India and Norway in the field of oil and natural gas. The
Norwegian Ambassador said the last meeting of the joint working group took place in September 2012. He added that there is a need to take this forward as Norway has the best of technology in the field of safety management and hydrocarbon exploration, especially in deep see drilling.

Our petroleum and natural gas minister said that the joint working group should meet at an early date to work out specific details and take our bilateral cooperation forward.

Meanwhile, state-owned energy firms from India, Pakistan, Afghanistan and Turkmenistan have jointly set up a company to build the 1,800 km long TAPI natural gas pipeline that will run across these nations, Asian Development Bank said on Thursday.

ADB is the transaction advisor for the TAPI gas pipeline project. 'State concern Turkmengas, Afghan Gas Enterprise, Inter State Gas Systems (Private) Limited, and GAIL (India) Limited own equal shares of the company,' ABD said in a release.

'Establishment of the TAPI pipeline company is a key milestone in the development of the pipeline. It is a tangible sign of transformational cooperation among the parties that presages the enhanced energy security, business prospects, and overall peace and stability in the region promised
by the pipeline,' said Klaus Gerhaeusser, Director General of ADB's Central and West Asia Department.

'When selected, the commercial consortium leader will take a substantial stake in the company. The TAPI pipeline will export up to 33 billion cubic meters of natural gas a year from Turkmenistan to Afghanistan, Pakistan, and India over 30 years.' Turkmenistan has the world's fourth-largest proven gas reserves, and the pipeline will allow the landlocked country to diversify its gas export  markets to the southeast. 
Agencies

Agencies

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