India and Japan discuss the bilateral issues of enhancing cooperation in the fields of petroleum and gas

New Delhi: The State Minister of Economy, Trade and Industry of Japan, Mr Kazuyoshi Akaba met the Minister of State (Independent Charge) for Petroleum and Natural Gas ShriDharmendraPradhan today. The meeting was marked by cordiality.

The Minister of State (Independent Charge) for Petroleum and Natural Gas recalled the strong cultural bonds and economic relations between the two countries and suggested taking them to a higher level. He appreciated the resurgence of the Japanese economy and said that it will have a positive impact on India as well. He stated that there is a lot of similarity between the two countries, as both of them are large energy consumers and are striving to secure their energy needs. ShriPardhan said that Japan has inspired India in manufacturing, technology and philosophy of governance. He welcomed the Indo-Japan cooperation for smart community projects under the Delhi-Mumbai Industrial Corridor (DMIC).

Regarding LNG procurement, ShriPradhan said that Japan is a model for India, and both countries can cooperate in devising a common strategy so that LNG can be procured at competitive prices. He said that India can learn from Japan on energy conservation, common facilities, consumer dialogue, etc. Bilateral dialogue can be taken forward on these issues. He said that India and Japan can work together to facilitate LNG trading in the Asian region with a focus on destination flexibility to ensure efficient gas supply for the region.

Both sides also discussed the issues related to technology transfer in the field of gas hydrates. ShriPradhan informed of the requirement of GAIL (India) Limited to charter hire upto 12 LNG carriers for bringing the LNG contracted from US. It was informed that a decision had been taken to construct at least 3 LNG carriers in domestic shipyards. He urged the Japanese side to impress upon the Japanese fleet owners to participate in GAIL's tender and enable construction of 3 LNG ships through transfer of technology and by ensuring collaboration between Japanese and Indian shipyards.

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