India on Monday called for a regional gas alliance among the Asian countries for greater cross-border trade in the environmental-friendly fuel.
Asian gas markets are leading the growth in global gas sector. Asia today accounts for 70% of the total LNG trade in the world. 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. ?Thus it is beyond doubt that Asia needs more cross-border trade in gas,? petroleum minister Murli Deora said at the 5th Asia Gas Partnership Summit.
?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. India on its part is ready to play sheet anchor role in this endeavour,? Deora said.
Global gas markets, especially in Asia, are increasingly integrating. As liberalisation progresses and the quest for energy intensifies, trading opportunities in gas are expanding, he said.