India invests $1.35 billion in Burma gas

[Ingis]

India invests $1.35b in Burma gas

India is investing $US1.35 billion in gas projects in military-ruled Burma, the two governments have announced, as the neighbouring nations pursue closer economic and diplomatic ties.

India’s Oil and Natural Gas Corp (ONGC) and Gas Authority of India Ltd (Gail) will spend SUS1.1 billion on rights to develop two gas field blocks and $US250 million on a connecting pipeline, India’s energy ministry said in a statement.

Burma’s military government confirmed the gas investment in a statement following broader diplomatic talks held with an Indian delegation on 1 March in its remote capital Naypyidaw.

Burma “welcomed the additional investment of $US1.1 billion… for gas field development and upstream projects”, it said in a statement, referring only to the gas fields deal. “Both sides agreed to strengthen cooperation in this field,” it said.

The other $US250 million investment gives India a 12.5 percent stake in a $US2 billion pipeline being built by China National Petroleum Corp (CNPC), China’s top oil producer. The first gas is expected in early 2013.

ONGC will spend $US167.8 million while Gail will invest $US83.8 million in the 771-kilometre (480-mile) pipeline which will transport gas from the two blocks off the Burma coast to China.

The connected gas blocks are jointly owned by South Korea’s Daewoo, Korea Gas Corp, ONGC and Gail.

 

[Ingis]

This is great news.

India and Burma have enhanced their relations incredibly in recent years - from joint naval operation to now joint gas development.

Also, check this --

Bangladesh agrees to tri-nation gas pipeline

Bangladesh agrees to tri-nation gas pipeline - Economy and Politics - livemint.com

 

[Cityboy]

great..we need more and more oil and gas for our industry

 

[gen x]

good work keep doing

 

[Iggy]

Pipe line with Burma through Bangladesh.two are hostile towards each other..Dont you think its kind of risk??

 

[jha]

they ARE hostile...but its a case of $$$$.....also this is their headache...

 

[Gideon]

India should learn its lesson from the Chinese advances into Burma and stay away from those crazy despots. Myanmar as the Generals call it, is the least like India in the entire region. India has been repeatedly burned by the Burmese generals by them offering the Chinese ports and military facilities as well as turning a blind eye to separatists from India.

Investing in the Burmese gas project only goes to line the pockets of these generals while advancing Chinese interests in Burma. Also, by partnering with Burma, India isolates itself from forging strong relations with Thailand which has stronger tries to India both culturally and politically.

Also, with a democracy like India still supporting Myanmar internationally, the UN nor the West can properly isolate it to end the rule of the military generals who are running that country. If India were to stop supporting them, Myanmar would have only the Chinese to support them internationally and the world can effectively pressure this oppressive state into reforming into a more open and free society.

 

[karan.1970]

This is great news.

India and Burma have enhanced their relations incredibly in recent years - from joint naval operation to now joint gas development.

Also, check this --

Bangladesh agrees to tri-nation gas pipeline

Bangladesh agrees to tri-nation gas pipeline - Economy and Politics - livemint.com

If this goes thru, does that mean an end to any remaning chance of Indian interest in IPI pipeline project..?

 

[A$HU]

If this goes thru, does that mean an end to any remaning chance of Indian interest in IPI pipeline project..?

No buddy.It was dead long ago.It was indeed a very smart move by india.The taliban would have used that pipeline as a target practice.And the pipeline would have been under repairs all of its life.

 

[Aryaputra]

India should learn its lesson from the Chinese advances into Burma and stay away from those crazy despots.

China is an expansionist power so its natural that they are focusing on Burma. India is a friendly power with no such expansion designs. So, its harmless that India invests in Burma and if Chinese are scared of this, then its their paranoia and I won't blame them since only paranoid will see Indian investment in Burma as a threat to them.

Myanmar as the Generals call it, is the least like India in the entire region.

Saudi Arabia is least like India, so stop buying Oil from them and kill ourselves?

India has been repeatedly burned by the Burmese generals by them offering the Chinese ports and military facilities as well as turning a blind eye to separatists from India.

Indians have been hanged by Saudi without any court trials and raped to death. Should India cry and stop buying Oil from Saudi Arabia?

By the way, after Indian investments and assurance of help against Western pressure, Burmese Generals passed intelligence information on senior Left-wing leaders in North-East and conducted raids on Maoists hiding in Burmese jungles and transferred senior leaders of them to India. This is much better than what Pakistan did on Hafiz Saeed after 26/11. So, I would say Burmese Generals are far more trustable than Generals in Pakistan.

Also, by partnering with Burma, India isolates itself from forging strong relations with Thailand which has stronger tries to India both culturally and politically.

Stop spreading hate propaganda here. Thailand has free-trade pact with India and relations are going great. Why you are against Thai people?

Also, with a democracy like India still supporting Myanmar internationally, the UN nor the West can properly isolate it to end the rule of the military generals who are running that country.

West is a hypocrite. It supports dictators when it suits their self and economic interests. If tomorrow, Burma invited Pope and bowed to his religion, West will soften its stand.