In­dia to have gas trad­ing hub soon, says Prad­han

The Times of India (New Delhi edition) - - | POLITICS POLICY - NEWS NET­WORK

New Delhi: The gov­ern­ment will set up a gas trad­ing hub to help buy­ers and sell­ers get a bet­ter fix on prices for do­mes­tic and im­ported sup­plies as part of mar­ket re­forms, oil min­is­ter Dhar­men­dra Prad­han told a global oil in­dus­try gath­er­ing. “We are in the process of re­form­ing the gas mar­ket in In­dia where you can sell your gas through a gas trad­ing hub,” he said at a ses­sion on In­dia at the 22nd World Petroleum Con­gress in Is­tan­bul but did not give a date for launch­ing the trad­ing plat­form.

“We are also com­plet­ing a 30,000-km na­tional gas grid in the com­ing years. We can proudly claim that we have not only brought in pol­icy re­forms, but also im­ple­mented them,” Prad­han said in his speech, a copy of which was re­leased by his min­istry here.

The gov­ern­ment plans to dou­ble the net­work of pipe­lines trans­port­ing nat­u­ral gas in the next 3-4 years as part of plans to shift to a gas-based econ­omy with a view to cut­ting car­bon emis­sions and reliance on oil. In­dia is com­mit­ted to cut­ting a third of its emis­sion by 2030, partly by widen­ing the use of cleaner-burn­ing fu­els.

Prad­han used the re­forms as a back­drop for at­tract­ing in­vestors. “With the world eye­ing In­dia’s growth closely, I en­cour­age you all to take the first-mover ad­van­tage, and join hands with us to be­come part­ners in the next round of global growth. Your cre­den­tials, com­bined with In­dia’s re­sources and good gov­er­nance prac­tices, will lead to a fruit­ful part­ner­ship, and we look for­ward to high-level col­lab­o­ra­tions with you,” he­said.

While slow­down seems to have be­come the new norm in the global econ­omy, In­dia had man­aged to main­tain a GDP growth rate of over 7% in the last two years, he said. New Delhi: The In­dian Con­sulate in Jed­dah is making ar­range­ments to bring back the bod­ies of 11 In­dian work­ers killed in a fire in a house in Saudi Ara­bia’s Na­jran city, the min­istry of ex­ter­nal af­fairs said on Thurs­day.

Of the 11, four were from Ut­tar Pradesh, three from Ker­ala and one each from Bi­har, Tamil Nadu and Pun­jab, MEA spokesper­son Gopal Baglay said at his weekly me­dia brief­ing in NewDelhi.

All of them were em­ploy­ees of Emaar EA Mo­ta­he­don Trad­ing and Con­tract­ing Com­pany. The 11 mi­grant labour­ers died of as­phyx­i­a­tion in Na­jran on Wed­nes­day in a fire that en­gulfed the they shared. “Fire­fight­ers put out the blaze in an old house lack­ing win­dows for ven­ti­la­tion. Eleven peo­ple died of as­phyx­i­a­tion, and six oth­ers were in­jured,” the re­port said.

Lok Sabha Speaker Su­mi­tra Ma­ha­jan has called upon all stake­hold­ers to work col­lec­tively an de­ci­sively to counter the in­creased threat of ter­ror­ism. The Speaker, who is lead­ing an In­dian par­lia­men­tary del­e­ga­tion to Rus­sian Fed­er­a­tion, while ad­dress­ing the state Duma, urged that all coun­tries work to­gether to counter ter­ror­ist net­works and cross-bor­der move­ment of ter­ror­ists.

Ex­press­ing hap­pi­ness at the fact that the Duma has in­sti­tuted an Indo-Rus­sian Fed­er­a­tion Friend­ship Group, Ma­ha­jan re­called that both In­dia and Rus­sia have stood united on the need for re­forms in the UN Se­cu­rity Coun­cil. She once again ex­pressed grat­i­tude for the con­tin­ued sup­port of Rus­sia for In­dia’s per­ma­nent mem­ber­ship of UN Se­cu­rity Coun­cil.

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