(EnergyAsia, March 30) — India wants to work with China in acquiring international energy projects to strengthen their bargaining position.
“Market forces dictate that India and China will compete in acquiring hydrocarbon properties across the world. Both India and China should work together in this field as they are the world’s largest developing countries and can get the best prices,” Indian petroleum minister Mani Shankar Aiyar said at a conference on ‘the China economic miracle’.
According to the Financial Express, Mr Aiyar said when the two compete against each other, the bid prices for oil and gas assets go up.
Giving examples of successful tie-ups between India and China, Mr Aiyar said that in Sudan, both the countries had been working together on the Greater Nile oil project in “perfect harmony.”
Similarly, in Khartoum, China has built a refinery while India has built a pipeline to transport oil.
“This model of cooperation can be replicated in Iran, Sub-Saharan Africa, Central Africa, Latin America and North and Central Asia,” he said.
Also speaking at the conference was Wang Jinzhen, assistant chairman of China Council for Promotion of International Trade, who noted that China-India relations had improved greatly in recent years.