New Delhi: Oil minister Dharmendra Pradhan has offered investments by Indian public sector oil and gas companies in Myanmar’s hydrocarbon sector including exploration, refinery upgradation, fuel retailing and city gas distribution, an official statement on Pradhan’s visit to the south east Asian nation said on Wednesday.
India’s Oil and Natural Gas Corp. and Gail (India) Ltd already have investments in producing gas blocks in Myanmar and New Delhi is keen to take bilateral investments forward by its state-owned companies participating in the next round of auction of hydrocarbon assets by Myanmar.
Pradhan conveyed Indian oil companies’ interest in participating in the bids to Myanmar’s electricity and energy minister U. Pe Zin Tun, said in the statement.
India is also keen to integrate its natural gas grid with Myanmar and offer city gas distribution services in Myanmar. India is building several liquified natural gas (LNG) import terminals and gas transportation pipelines in its quest to make the economy more reliant on gas, a cleaner fuel than liquid hydrocarbons.
“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. 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,” added the statement.
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