China, India rushing for augmenting energy supplies
Friday, 28 August 2009
Fazle Rashid
TWO major economies of the world, China and India, who are expected to play an important role in the readjustments of the global economy after it stabilises, are rushing for augmenting their energy requirements. China is planning to import gas from Myanmar and India from Iran.
A South Korean led consortium is planning to develop a gas field off Myanmar's coast in a project designed to supply gas to China over 30 years.
The project includes a plan for building a supply pipeline between the countries.
The project will be ready for operation from as early as 2013. The consortium led by Daewoo International of South Korea will feed 500 million cubic feet of gas a day to China National United Oil Corporation, a prestigious daily reported. Both India and Myanmar will have shares in the consortium with Daewoo holding maximum share of 51 per cent. It needs no pundit to say that Bangladesh's drive for oil and gas exploration will suffer a huge setback.
The project will cost $5.6 billion with Daewoo investing $1.68 billion. The money will be invested on building an offshore production base, pipelines and a land terminal. The pipeline will run from Burmese coast into China bypassing Malaca and Makassar straits, the same paper revealed.
This is in sharp contrast to international drives to isolate Burma for its human rights abuses and promote democratic practices with little effect. The Burmese generals have also been accused of using forced labour on large projects.
China, India and Thailand have developed elaborate trade ties with Myanmar hungry for its energy and mining resources. India is also planning to build a 4000 megawatt power plant in Iran which has the second largest reserve of natural gas in order to meet its growing electricity demand.
It will be a government sponsored project which will cost $4.1 billion. It will be a buy back project. The transmission pipeline which will run through Pakistan will cost Rs120 billion.
Ambananis of India had earlier proposed to import natural gas from Iran by constructing a pipeline through Pakistan. Nothing new has been heard about the project. Ambanani brothers are now entangled in a legal battle over ownership of various units of the Reliance Group built meticulously by father Dhiribhai Ambani. Ambani brothers were until recently in the roll of the richest men of the world.
TWO major economies of the world, China and India, who are expected to play an important role in the readjustments of the global economy after it stabilises, are rushing for augmenting their energy requirements. China is planning to import gas from Myanmar and India from Iran.
A South Korean led consortium is planning to develop a gas field off Myanmar's coast in a project designed to supply gas to China over 30 years.
The project includes a plan for building a supply pipeline between the countries.
The project will be ready for operation from as early as 2013. The consortium led by Daewoo International of South Korea will feed 500 million cubic feet of gas a day to China National United Oil Corporation, a prestigious daily reported. Both India and Myanmar will have shares in the consortium with Daewoo holding maximum share of 51 per cent. It needs no pundit to say that Bangladesh's drive for oil and gas exploration will suffer a huge setback.
The project will cost $5.6 billion with Daewoo investing $1.68 billion. The money will be invested on building an offshore production base, pipelines and a land terminal. The pipeline will run from Burmese coast into China bypassing Malaca and Makassar straits, the same paper revealed.
This is in sharp contrast to international drives to isolate Burma for its human rights abuses and promote democratic practices with little effect. The Burmese generals have also been accused of using forced labour on large projects.
China, India and Thailand have developed elaborate trade ties with Myanmar hungry for its energy and mining resources. India is also planning to build a 4000 megawatt power plant in Iran which has the second largest reserve of natural gas in order to meet its growing electricity demand.
It will be a government sponsored project which will cost $4.1 billion. It will be a buy back project. The transmission pipeline which will run through Pakistan will cost Rs120 billion.
Ambananis of India had earlier proposed to import natural gas from Iran by constructing a pipeline through Pakistan. Nothing new has been heard about the project. Ambanani brothers are now entangled in a legal battle over ownership of various units of the Reliance Group built meticulously by father Dhiribhai Ambani. Ambani brothers were until recently in the roll of the richest men of the world.