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News Brief | December 2014

India expects foreign investment in petroleum sector

India expects foreign investment in the petroleum sector, Oil Minister Dharmendra Pradhan has said. He said Indian trade has got a boost after Narendra Modi became the Prime Minister. Pradhan, who will represent India at the 19th Steering Committee meeting of TAPI pipeline project in Turkmenistan , said the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline will benefit India enormously. He further added that the matter of quickly getting a consortium in place will be discussed at the meeting. The TAPI pipeline will have a capacity to carry 90 million standard cubic metres a day (mmscmd) gas for a 30-year period and will be operational in 2018. India and Pakistan would get 38 mmscmd each, while the remaining 14 mmscmd will be supplied to Afghanistan.
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