India, Qatar agree to set up task force on energy investment – Times of India

NEW DELHI: India and Qatar on Friday agreed to set up a task force to identify projects for the country’s largest natural gas supplier to invest in, oil minister Dharmendra Pradhan said.
The decision was taken during Pradhan’s telecon with Saad Sherida Al-Kaabi, Qatar’s minister of state for energy affairs and president and CEO of Qatar Petroleum. The telecon was a follow-up to prime minister Narendra Modi’s discussion with Qatar’s emir Sheikh Tamin bin Hamad Al-Thani on Tuesday.
Qatar is India’s biggest gas supplier, shipping 8.5 million tonnes per annum of LNG (liquefied natural gas) to India under a long-term deal besides supplying bulk LPG, or liquified petroleum gas, used for cooking. India is seeking a renegotiation of the LNG deal to reflect the current low prices in the international market.
Pradhan tweeted to say Qatar Petroleum vice-president will represent Qatar in the Task Force on Energy, while India will be represented by a senior officer from the petroleum ministry.
“We also agreed to further strengthen cooperation in the energy sector and move beyond the buyer-seller relationship to a comprehensive one, including two-way investments,” he said.
Cash-rich Qatar Investment Authority is looking to invest in India, particularly in the energy and infrastructure sector. India is the world’s third-largest oil and LNG importer.
India had sought Qatari investment in India’s oil and gas exploration and production as well as participation in building the second phase of strategic oil reserves during Modi’s June 2016 Doha visit.

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