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‘India keen on forging long term ties with African nations’
Indicating that India plans to forge long term energy-based ties with oil-rich African nations, Petroleum Minister S Jaipal Reddy has said that state-owned Indian Oil Corp (IOC) and GAIL Ltd are looking at picking up an equity stake in LNG projects in the continent to meet growing energy needs of the country.
Hydrocarbon-rich Africa today supplies 35.31 million tonnes, or 21.5 per cent, of the nation’s crude oil requirement, Reddy said at the 3rd India AfricaHydrocarbon Conference. “Our companies are interested in farm-in opportunities in producing blocks, especially in Libya, Algeria, Egypt and Nigeria,” he said.
With natural gas demand projected to double in five years, India is looking to tie-up long-term supplies of liquefied natural gas from Africa.
“Our companies such as GAIL, Petronet LNG and IOC are interested in sourcing LNG on a long-term basis from Africa; explore possibilities of equity participation in existing/proposed LNG liquefaction projects; business opportunities in gas processing and gas-based petrochemical projects in Africa; and farm-in opportunities in producing gas blocks for conversion to LNG and dispatch to India,” he said.
Reddy said India is keen to participate in exploration in Angola, Ghana, Sudan, Algeria, Congo, Nigeria, Uganda, Cote D’Ivoire, Mozambique, Chad, Gabon and Tanzania.
Indicating that India plans to forge long term energy-based ties with oil-rich African nations, Petroleum Minister S Jaipal Reddy has said that state-owned Indian Oil Corp (IOC) and GAIL Ltd are looking at picking up an equity stake in LNG projects in the continent to meet growing energy needs of the country.
Hydrocarbon-rich Africa today supplies 35.31 million tonnes, or 21.5 per cent, of the nation’s crude oil requirement, Reddy said at the 3rd India AfricaHydrocarbon Conference. “Our companies are interested in farm-in opportunities in producing blocks, especially in Libya, Algeria, Egypt and Nigeria,” he said.
With natural gas demand projected to double in five years, India is looking to tie-up long-term supplies of liquefied natural gas from Africa.
“Our companies such as GAIL, Petronet LNG and IOC are interested in sourcing LNG on a long-term basis from Africa; explore possibilities of equity participation in existing/proposed LNG liquefaction projects; business opportunities in gas processing and gas-based petrochemical projects in Africa; and farm-in opportunities in producing gas blocks for conversion to LNG and dispatch to India,” he said.
Reddy said India is keen to participate in exploration in Angola, Ghana, Sudan, Algeria, Congo, Nigeria, Uganda, Cote D’Ivoire, Mozambique, Chad, Gabon and Tanzania.
