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New Delhi Correspondent
India on Thursday expressed keenness to participate in midstream and downstream segments of Myanmar’s hydrocarbon sector, including setting up a refinery, storage, distribution and marketing of petroleum products in that country.
The Indian interest was conveyed by Minister of Petroleum and Natural Gas Dharmendra Pradhan during a meeting with U Win Khaing, Myanmar’s Minister for Construction, Electricity and Energy here.
Pradhan also offered to assist Myanmar in training and capacity building in hydrocarbon sector.
During the meeting, both the Ministers discussed issues of bilateral engagement in the hydrocarbon sector and expressed their keenness to work towards further strengthening the bilateral engagements in the sector and make it one of the important areas of bilateral cooperation, an official statement said.
In the upstream segment of hydrocarbon sector in Myanmar, the two Ministers discussed the current and future investments by Indian companies in that country.
India’s state-owned Oil and Natural Gas Corporation, Videsh Ltd (OVL) and Gas Authority of India Limited have invested in gas producing blocks in Myanmar. OVL also has stakes in exploratory blocks in Myanmar.
Indian companies Indian Oil Corporation Ltd, Numaligarh Refinery Ltd and Hindustan Petroleum Corporation Ltd are exporting petroleum products, lubricants and paraffin wax to Myanmar. Indian PSU companies have invested over US $ 1 billion in the upstream and midstream sectors in Myanmar.