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India invites Australia investments in oil and gas industry

15 Jan 2015

At the India Australia Business Summit, India’s Minister of State, Petroleum & Natural Gas spoke about the opportunities for Australian companies to invest in India’s oil and gas industry.

With India and Australia already having significant linkages in other fields, India is also keen to cooperate with Australia in the field of geo-scientific research and in the exploration of Coal Bed Methane (CBM) in India, Australia and other places.

The Indian government has fixed a goal of “Power For All" in India by 2019, and a number of Indian companies are looking at opportunities to secure equity participation in Australian LNG projects and to source LNG from various planned and upcoming LNG projects in Australia.

The Minister of Trade and Investment in Australia said that a partnership between the two countries could help India become energy sufficient, also helping to diversify India’s energy basket by providing access to fuels.