Deora identifies areas of Asean-India cooperation in hydrocarbon sector

Dalat (Vietnam), July 23 (ANI): Minister of Petroleum and Natural Gas Murli deora has emphasized the need for greater cooperation between India and ASEAN countries in the hydrocarbon sector.

Speaking at the 4th ASEAN Energy Ministers Summit here, he identified key areas to highlight the need for working together in energy sector.

The areas suggested by him included development of coal bed methane, underground coal gasification, gas hydrates and oil shale resources.

It also included developing second generation biofuels, harnessing energy saving technologies and measures for the safety and security of the oil and gas sector.

He also offered to share Indian experience of utilizing Compressed Natural Gas (CNG) for public transport in which India is a world leader.

Referring to the development of specialized training facilities for the hydrocarbon sector in India, Deora proposed to share the same including at the Rajiv Gandhi Institute of Petroleum Technology, for ASEAN members.

Adding that together we are among both producers as well as major producers, he said that challenge to sustainable energy security lies in mobilizing sufficient capital to create new capacities in all areas of the energy economy.

Deora elaborated the significant growth in India’s downstream sector and informed that the refining capacity is expected to reach 255 million tones by 2012 from the present level of 182 million tones per annum.

He also pointed out that the India-ASEAN relations have deepened and intensified in recent years.

In the backdrop of India’s “Look East Policy” adopted since early 90s, Deora underlined that India and ASEAN should work closer together to create an ‘arch of mutual advantage.’ (ANI)