India to host Asian oil meet

New Delhi, Nov 15 | Updated: Nov 16 2005, 05:30am hrs
Following the success of the Asian oil and gas ministers meet in Januray this year, India is all set to host another round table of North and Central Asian oil producing countries, with the ministers of major oil consuming nations in New Delhi, beginning November 25.

The meet, which has evoked a massive response from all over the globe, has been conceptualised by petroleum minister Mani Shankar Aiyar. A high-level delegation led by Turkish oil minister Mehmet Hilmi Guler is also coming to India just before the round table to hold talks and sign agreements for co-operation in the energy sector.

Turkeys unique geo-strategic location would aid in the transportation of energy sources of the Mid Asian, West Asian and the Caspian basin to Europe and further to the world markets, leading to the formation of the East-West energy corridor.

Representatives from the leading Turkish oil and gas companies including TPAO, Botas and Petkim would be part of this delegation to India to discuss the cooperation roadmap in detail during the visit. A memorandum of understanding (MoU) may also be entered into between India and Turkey for cooperation including E&P, oil and gas pipeline projects as also downstream projects including LNG, petrochemicals and refining.

On the E&P front, the two countries will also look at cooperation in third countries especially Central and East Asian, West Asian and African countries.

An agreement between India and Japan for undertaking a joint study on future development of an Asian oil and gas market may also be signed at the time of the round table meet.