India plans to propose energy pact with China
Updated: 2005-11-27 09:13
India plans to propose an overarching agreement on cooperation in oil and gas
industry with China when Indian Petroleum Minister Mani Shankar Aiyar visits
Beijing in mid-January 2006, Indo-Asian News Service reported Saturday.
In its proposal, India will suggest to set up institutional mechanism to
carry forward the cooperation in research and development of energy sector
between the two countries, Aiyar said in New Delhi Saturday.
He also indicated that Indian exploration major ONGC Videsh Ltdcould join
hands with China National Petroleum Corporation (CNPC) to bid for exploration
blocks in Syria.
"The commercial matters can be facilitated if there is a political framework
in place within which companies should work together," he said.
The two countries agreed to set up a working group to figure out possible
areas of cooperation at a bilateral meeting held in New Delhi Saturday, Aiyar
The Petroleum Ministry will hold a meeting with Indian state-owned oil and
gas companies Monday to solicit their opinion on cooperation with the four major
Chinese oil and gas companies, he said.
"Around four to five MoUs (Memorandum of Understanding) are expected to be
signed during my visit to China in January," he said.