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Petroleum Minister visits Myanmar for strengthening Hydrocarbon Relations

Feb 22nd, 2017 3:38 pm | By | Category: LATEST NEWS

THE NEWSMAN OF INDIA, keeps you update and ahead

THE NEWSMAN OF INDIA, keeps you update and ahead

1st Indian Petroleum Minister to visit Myanmar in last 12 years
Put forth proposals on participation by Indian O&G companies in Mid & Down Stream sector of Myanmar

The Minister of State (I/C) for Petroleum and Natural Gas,Dharmendra Pradhan is on an official visit to Myanmar to enhance regional cooperation in the Hydrocarbon sector with the neighbouring country.

India and Myanmar have historical and close relations which have withstood the test of time. We both share a long land and maritime border. As an important element of our Look East Policy, India considers Myanmar as the friendship bridge to ASEAN countries.

The visit of Pradhan is a follow up of the visit of State Counsellor Daw Aung San Suu Kyi of Myanmar to India in October, 2016. His visit is also the first Ministerial level visit between the two countries since October last and also first visit by Indian Petroleum Minister in the last 12 years.

During the visit,Pradhan met with his Myanmar counterpart U Pe Zin Tun, Union Minister of Electricity and Energy, Myanmar.He discussed issues of bilateral engagement in the hydrocarbon sector. In the Upstream sector, both leaders discussed the current and future participation of Indian Oil and Gas companies in the Upstream sector of Myanmar. Presently, ONGC Videsh Ltd (OVL) and GAIL have invested in gas producing blocks in Myanmar. OVL and Oil India Ltd have invested in exploratory blocks. The interest of Indian Upstream companies in participating in the forthcoming bid round in Myanmar was conveyed to Myanmar side.

The Minister put forward various proposals on participation by the Indian Oil and Gas companies in the Mid-stream and Down-stream sector of Myanmar, including in refurbishment and upgradation of refineries in Myanmar, developing downstream market though supply of petroleum products, LPG, wax, petrochemicals, etc., integrating the Indian Natural Gas grid with Myanmar for developing their cities through CGD network and also in the area of sourcing LNG. Energy Minister U Pin Zin Tun expressed his keenness to deepen the relations and invited India to invest in all streams of Oil and Gas.Pradhan visited the Shwe gas production facility in which OVL and GAIL have joint stake. He also extended proposals to assist Myanmar in training and capacity building its hydrocarbon officials.

Both Ministers expressed their keenness to work towards further strengthening the bilateral engagements in the hydrocarbon sector and make it one of the important areas of bilateral cooperation between both the countries.

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