Pradhan discusses oil, gas cooperation with Kuwaiti, Russian counterparts

Vien, June 3: India’s Petroleum and tural Gas Minister Dharmendra Pradhan on Wednesday met his Kuwati and Russian counterparts here to discuss fostering cooperation on the oil and gas front.

“Met oil minister of Kuwait Ali Saleh Al-Omair; agreed to move from a buyer-seller relation to energy partnership,” tweeted Pradhan, who is attending the Sixth OPEC Intertiol Semir held here.

He also met Russian Energy Minister Alexander Novak.

“Had a productive meeting with Russian energy minister Alexander Novak; we agreed to enhance oil and gas cooperation,” he tweeted. In his address at the semir, Pradhan invited foreign investment and cooperation in the hydrocarbon sector in India.

“I am inviting all the countries to come forward to invest in investment friendly environment in India in all streams of oil and gas sector. We are also developing Strategic Petroleum Reserve, new LNG termils, refining and petro-chemical complexes where foreign investment or partnership will be most welcome,” he told his counterparts from OPEC tions. Pradhan said that his country has identified hydrocarbon sector as one of the 25 priority areas under the ‘Make in India’ campaign. According to the Intertiol Energy Agency estimates, India will need investments worth nearly $600 billion during 2011-2030 across various segments in the hydrocarbon chain to increase energy supply and improve infrastructure. (IANS)