Deora calls for Asian gas alliance as Musharff bats for China
14 Apr 2008
Mumbai: India has called for an alliance among gas consuming and producing nations in Asia for greater cross-border trade in the fuel as Asia now accounts for 70 per cent of the total LNG trade in the world.
"Geography, resources and economics favour regional integration, especially in gas," petroleum minister Murli Deora said at the 5th Asia Gas Partnership Summit in New Delhi.
Asia has two largest gas consumers in China and India, biggest supplier in Qatar and potential big supplier in Iran, underlining the need for regional cooperation.
Speaking in Beijing, Pakistan President Pervez Musharraf also pushed for the construction of gas and oil pipelines from Qatar to China via Pakistan. He said the proposed gas pipeline between Iran and India through Pakistan could also be expanded to include China.
"Global gas markets, especially in Asia, are increasingly integrating. As liberalisation progresses and the quest for energy intensifies, trading opportunities in gas are expanding," Deora said.
He said Asian countries have natural areas of commonalities and synergy in social, economic and technological spheres. A multi-faceted economic partnership will underpin more securely our traditionally close relationships, he added.
He called upon the governments in the Asian region to provide a transparent, attractive and stable policy and regulatory regime.
GAIL India chairman and managing director U D Choubey proposed a Gas Cooperation Forum of the Asian countries. "The basis of cooperation could be trade, investment, technology transfer and R&D in trying to have a smooth transition to gas-based economic development," he said.
