Financial Daily from THE HINDU group of publications
Thursday, Apr 14, 2005
Financial Daily from THE HINDU group of publications Thursday, Apr 14, 2005 |
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Industry & Economy
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Foreign Trade Qatar looking at strengthening trade ties Our Bureau
New Delhi , April 13 QATAR is now looking at consolidating and strengthening its trade and economic ties with India, including the hydrocarbon sector. During the three-day State visit of its Emir Sheikh Hamad bin Khalifa Al-Thani, the country proposes to focus on sectors such as manufacturing, infrastructure, agriculture, retailing, tourism, civil aviation, IT, education and health. Qatar wants to export liquefied natural gas (LNG) to India and is seeking investments by Indian firms in its hydrocarbon sector, including oil and gas exploration and production. Apart from ONGC, Reliance Industries Ltd has also been showing keen interest in setting up gas projects in Qatar. Mr Yousef Hassan Al-Sai, Qatar's Ambassador to India, told press conference here that, "Qatar is looking at strengthening trade and economic links, including energy ties, with India during the three-day State visit of its Emir." Currently, India is one of the biggest buyers of natural gas from Qatar, with the sale and purchase agreement for the supply of 7.5 million tonnes of LNG per year for 25 years. Currently, India is exporting 5 mt of LNG and negotiating for an extra 2.5 mt from Qatar. Qatar plans to boost annual LNG exports from 14.5 mt to 60 mt by 2010.
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