Pradhan and Abott release joint statement on trade of Oil, Gas

New Delhi [India], Mar 29 (ANI): Union Minister for Petroleum and Natural Gas Dharmendra Pradhan said on Wednesday that the first US consignment of natural gases will reach Maharashtra on March 30.

In a joint statement released by Pradhan and Governor of Texas Greg Abbott, they discussed the trade of oil and natural gases between India and United States.

Pradhan, while calling Texas as the hub of hydrocarbons of the United States, called the visit of Abbott as 'significant'.

He informed, "The oil and gas companies of India have invested five billion dollars assets in Hydrocarbons in the United States. Further energy trade worth 9 billion will be done on a longtime basis".

He also said Abbott mentioned about Cambridge Energy Research Associates conference that took place in Texas in 2016.

He said, "India is contributing to job creation in Texas. India is a growing economy and the growing economies need energy for their growth".

"Texas is blessed to be abundant in energy (resources)", he added.

He then mentioned of the first-ever shipment of oil from Texas to India in October 2017.

He also ensured to create opportunities to import oil to help the Indian economy to grow.

Later in the discussion round Pradhan while responding to a question on the capacity to store the natural gas said, "Our capacity needs to be increased to accommodate nine million tonnes of natural gas".

He said, India is the third largest consumer of natural gas in the world, but still its per capita income generated out of this energy sector is very low.

He further highlighted the need to increase the City Gas Distribution (CGD) network while saying, "150 districts have been connected with CGD. 200 districts will be added in 2018. There is an indiction of the gas market in India."

Pradhan then highlighted the Pradhan Mantri Urja Ganga program. He said that the program will be expanded to eight states of the north-east.

Further, he hinted upon new markets (of natural gas) to come up in Bihar, West Bengal, Odisha, Jharkhand and Uttar Pradesh. (ANI)