India, Qatar Sign Oil, Gas Pact

India and Qatar, on Monday, signed a pact to enhance cooperation in the oil and gas sector. The pact is one of the six agreements inked by the two nations.

Petroleum minister S Jaipal Reddy and Qatar’s energy minister Mohammed Bin Saleh al-Sada signed an MoU to establish a cooperative framework to facilitate and to enhance bilateral cooperation in the oil and gas sector.

The areas of cooperation include upstream and downstream oil and gas activities. The two countries expect to encourage and promote investment and cooperation.

Qatar is the largest supplier of LNG to India, which buys 7.5 million tonnes/per year of LNG from it. India wants to have huge additional supply of oil and LNG from Qatar but pricing is an issue.