India may seek more investments, energy from Oman, Qatar
Sunday, 9 November 2008
NEW DELHI, Nov 8 (PTI): Undertaking his first visit to the Gulf, Prime Minister Manmohan Singh is expected to seek enhanced investments and trade in energy from the region during his three- day visit to Oman and Qatar beginning today.
"The current international economic and financial situation provides a unique opportunity for India to leverage the vast surplus funds in the Gulf for development needs, and to accelerate trade and investment flows," Singh said in a statement on the eve of his visit.
During the visit to the energy-rich Gulf region, Singh's first after becoming Prime Minister four-and-half years ago, India is expected to seek additional natural gas for the Oman India Fertilizer Co as also liquefied natural gas (L.N.G.) to meet urea and energy needs back home.
"The Gulf region is an area of vital importance for India's security and prosperity. We have always enjoyed a very special relationship with countries of the region," he said.
The region employs about 4.5 million Indians, who remit a little less than USD 9 billion every year.
With general elections barely a few months away, visit to two influential Gulf Cooperation Council countries is also imbued with political overtones and is likely to be projected as a sign of India's commitment to deepening relations with the Muslim world.
While in Muscat, he may ask for a share of gas that Oman receives from Qatar through Dolphin project, so that OMIFCO capacity can be doubled to 3.8 million tonnes, in Doha his agenda may be to seek 2.5 million tons of L.N.G. for use at home.
Singh said India attaches great importance to bilateral ties with Qatar, which is one of the "largest and most reliable suppliers of our energy needs from the region."
"The Gulf countries are extremely important for India and certainly Oman and Qatar in a big way," Ministry of External Affairs Secretary (East) N. Ravi said, briefing the media on the visit.
"The current international economic and financial situation provides a unique opportunity for India to leverage the vast surplus funds in the Gulf for development needs, and to accelerate trade and investment flows," Singh said in a statement on the eve of his visit.
During the visit to the energy-rich Gulf region, Singh's first after becoming Prime Minister four-and-half years ago, India is expected to seek additional natural gas for the Oman India Fertilizer Co as also liquefied natural gas (L.N.G.) to meet urea and energy needs back home.
"The Gulf region is an area of vital importance for India's security and prosperity. We have always enjoyed a very special relationship with countries of the region," he said.
The region employs about 4.5 million Indians, who remit a little less than USD 9 billion every year.
With general elections barely a few months away, visit to two influential Gulf Cooperation Council countries is also imbued with political overtones and is likely to be projected as a sign of India's commitment to deepening relations with the Muslim world.
While in Muscat, he may ask for a share of gas that Oman receives from Qatar through Dolphin project, so that OMIFCO capacity can be doubled to 3.8 million tonnes, in Doha his agenda may be to seek 2.5 million tons of L.N.G. for use at home.
Singh said India attaches great importance to bilateral ties with Qatar, which is one of the "largest and most reliable suppliers of our energy needs from the region."
"The Gulf countries are extremely important for India and certainly Oman and Qatar in a big way," Ministry of External Affairs Secretary (East) N. Ravi said, briefing the media on the visit.