India to have gas trading hub soon, says Pradhan
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.