India-US strategic energy ties to focus on oil, gas sector

[CMOP + 227]

The first meeting of the US and India's Strategic Energy Partnership took place in New Delhi on Tuesday, aimed at developing greater synergies between the two countries in the oil and gas sector.

The partnership sets the stage for deeper and more meaningful engagements through government and industry channels, according to a joint statement released after the meeting, which was co-chaired by US Energy Secretary Rick Perry and Indian Oil Minister Dharmendra Pradhan.

A joint task force will make recommendations on how India, the world's third-biggest energy consumer, can transition towards being a gas-based economy in order to fulfill Prime Minister Modi's target of doubling the share of gas in the overall energy mix to around 15% in next four to five years.

Pradhan said India offers attractive oil and gas markets for the US as the country is the fastest-growing large economy, with 8% annual growth in energy consumption.

Should be a win win for both countries.