Japan to support LNG infrastructure
Japan intends to continue support capacity building in the multi-billion dollar Liquefied Natural Gas (LNG) and participate in the hydrocarbon sector.
This was conveyed by Japanese Minister for Economy, Trade and Investments Hiroshi Kajiyama, sector on 10 Dec 2019 when he met Indian counterpart in Delhi.
He also informed that Japanese companies would be keen to enhance their participation in Indian oil and gas sector, which is set to witness a massive investment of US$160 billion by 2024 in upstream, downstream and gas distribution infrastructure.
The visiting Minister responded to a call from Steel as well as Petroleum and Natural Gas Minister Dharmendra Pradhan who had proposed composite engagement in both the steel and energy sectors during the meeting.
Pradhan appreciated Japanese work culture and spirit of innovation and entrepreneurship and called for more Japanese technology and investments in India.
Pradhan said: “I firmly believe that both India and Japan have lot of complementarities in the hydrocarbons sector. India will see a massive investment of US$160 billion by 2024 in oil and gas exploration, refineries and in setting up of natural gas infrastructure.
“I see a huge potential for us to enhance engagements in energy sector, especially in LNG business, Gas Hydrates as well as our ambitious Strategic Petroleum Reserves Program.
“This will be a win-win proposition for both our countries,” he added.
Speaking about extensive co-operation in steel sector, Pradhan also appreciated Japan’s imports of Indian iron ore under a long-term agreement in exchange for supplying high grade steel.
He highlighted Steel Cluster Policy which will encourage setting up small high-grade steel manufacturing plants and called on Japanese mills to increase investments, ride on the success of current joint ventures with Indian companies.
Responding, Kajiyama expressed his keenness to upgrade the bilateral engagement in steel sector, and in this regard appreciated the ongoing efforts to set up structured and regular dialogue between the Indian Steel Ministry and Japan’s Ministry of Economy, Trade and Industry.
Kajiyama also discussed Japanese participation in India’s North Eastern Region and nuclear projects with Minister of State in charge of developing the region and Atomic Energy, Dr Jitendra Singh.
Various issues related to cooperation in the areas of nuclear energy, infrastructure and technology were discussed with Dr Singh.
Dr Singh pointed out that nuclear power programme is devoted to peaceful purposes in the fields of energy, agriculture and medicine.
During the meeting, the Joint Working Group (JWG) meetings of March and September 2018 on the issue of Civil Liability for Nuclear Damage Act, 2010 (CLND) were also discussed. The next meeting of JWG is proposed for January 2020.
Dr Singh elaborated on the Japanese investment in North East India, especially in the infrastructure and the technological contribution made in the Bullet train project.
India and Japan are going to collaborate in a healthy and productive manner, said Dr Singh.
Kajiyama said that both countries need to share each other’s experiences.
The issue of human resources and related issues were also discussed. Both sides emphasised on mutual cooperation for further development. fiinews.com