NEW DELHI: India can partner with African nations to set up entire supply chain in the hydrocarbon sector beginning from exploration to strategic storage, External Affairs Minister Sushma Swaraj said.
“India can partner in establishing the entire supply chain in the hydrocarbon sector beginning from exploration, production, refining, distribution, infrastructure and strategic storage,” Swaraj said while addressing the India-Africa Hydrocarbon Conference here.
“Africa, for us, is a natural partner with its rich resource endowments and rising production of hydrocarbons. This is an opportunity for both India and Africa to forge a commitment to energy security – both security of demand and security of supply. Our complementarity is a win-win proposition which cannot be ignored by either one of us.”
Swaraj also announced that India will offer further concessional credit of $10 billion to Africa over the next five years as well as grant of $600 million.
“This Conference has been organised not long after we held the highly successful Third India-Africa Forum Summit in New Delhi in October last year. This shows our continuous interest in strengthening our partnership with Africa in a wide range of areas.”
“In 2015, our imports of LNG from Africa doubled compared to 2013. The role of Africa in meeting India’s LNG needs will also keep growing as more LNG projects are brought online in the coming years,” she said.
Swaraj urged the African nations not to limit energy cooperation to hydrocarbon but to expand it to clean sources like solar, wind and biofuels where India has progressed.
On the occasion Oil Minister Dharmendra Pradhan said that as many as 21 countries participated in this conference which indicates the interest of African nations.
He said the during 2016, India will send delegations to these African nations to explore the possibility of partnerships in energy sector.
Pradhan said that there are African nations who want to upgrade their refining capacities with changing times and India can play an important role.
Besides these countries can benefit from India’s model system for distribution of clean fuels like LPG in the country.