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Shri Mani Shankar Aiyar Minister for Petroleum & Natural Gas and Panchayati Raj proposed the setting up of an Asian Gas Grid for ensuring energy security for the country. In his inaugural address to the Third Asia Gas Buyers' Summit here today the Minister said that the vast resources of gas available in the region should be harnessed by the Asian countries for this purpose. It is estimated that this region has more than 55% of the gas reserves.
The Minister underlined the need for the country to look beyond only the national gas grid and called upon important Asian Natural Gas Industry Players to jointly make initiatives to harness the gas reserves for the benefit of the entire Asian region and form an Asian Gas Grid. The 21st century should be the century of gas and demand for it was rising with India and China playing a major role as the buyers of gas for their energy needs. It should be possible that gas pipelines should be extended to cover more countries in Asia like making available Iranian gas to China by extending the proposed Iran- Pakistan-China pipeline to South China, the Minister suggested.
Shri Aiyar said that Japan, Korea, China & India should develop a community of interest between buyers and sellers of natural gas especially when these countries are having reasonable foreign exchange reserves. India should not plan an energy security condition without the help of Iran. Initiatives should be undertaken for a Pan Asian Dialogue for harnessing the gas reserves in the region on a priority basis on the lines of Organization of African Unity and uropean Union so as to mobilize the power of offshore and onshore gas for securing the energy needs of the continent, the Minister added. The two-day Summit is being organized by the Gas Authority of India Limited (GAIL), Federation of Indian Chambers of Commerce and Industry and International Gas Union.
RCJ/SBK/ kc/ asia gas summit (14.2.05)
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