India in consultation with Russia to swap gas with China
The Dollar Business Bureau India is in initial discussions with Russia to swap the natural gas with China and Myanmar as a substitute to creating world’s costliest pipeline, which is estimated to be around $25 billion. In October, the two countries had inked an initial agreement for building a 4,500-6,000 km long pipeline from Siberia to the third biggest energy consuming country of the world. Discussions are on with Russia’s Gazprom for an alternative swap, said Narendra K Verma, Managing Director, ONGC Videsh Ltd on the sidelines of Petrotech 2016 conference in New Delhi. Through an existing pipeline, Myanmar supplies gas to China. If Russia can give the same amount of gas to China, then it can reverse the gas flow from Myanmar to ...
Right time for India to revive trade with Iran, says industry body
The Dollar Business Bureau Removing trade restriction from Iran by the United Nations Security Council has opened up huge opportunity for India to import natural gas from Iran without involving Pakistan, an industry body said. “Lifting of Western sanctions now holds the promise of starting an undersea pipeline project that would bring Iranian gas to Porbandar port in Gujarat bypassing Pakistan, which has been the main sticking point for the other multilateral projects of Turkmenistan-Afghanistan-Pakistan-India (TAPI) and Iran-Pakistan-India (IPI),” said Associated Chamber of Commerce & Industry (ASSOCHAM) in its study on ‘India’s Trade with Iran’. With the IPI still stuck and the TAPI project yet to take off, the South Asia Gas Enterprises Pvt Ltd (SAGE) proposed an undersea pipeline bypassing Pakistan’s ...
