New Delhi: As part of India's efforts to combat the growing Chinese influence in Africa and India to boost efforts to secure the continent for at least hydrocarbon assets in 16 countries participating in the third India-Africa hydrocarbon conference will start ninth December.
India's efforts aimed at diversifying its import basket and come up with the background of China to organize similar conferences in the past.
"We wanted to compare with China. We have our own strategy," RPN Singh, Indian Minister of State in the Ministry of Petroleum and Natural Gas, told a news conference ahead of the event. "India has followed the policy of diversifying to meet its energy needs."
The need for diversification of supplies is critical to India, as it imports more than 80% of its energy needs. Energy consumption in India is expected to double by 2030, equivalent to 833 million metric tons (mt) of oil, according to the IEA forecast.
"Race in Africa access to natural resources are intensively led by China over the past decade," said Gokul Chaudhri, partner BMR Advisors Pvt consultant. Ltd. "India must demonstrate a comprehensive approach covering political, diplomatic and economic cooperation, focusing on institution-building and social ties in Africa. Our efforts so far have been sporadic with limited success."
The conference, held by the ministry of petroleum and natural gas, with a lobby group Federation of Indian Chambers of Commerce and Industry (FICCI) will take part Loemba Raphael Andre, hydrocarbons, Deputy Minister of the Republic of the Congo Noel Guetat mining, oil and energy, and Cote d'Ivoire Tolesa Shagi, Ethiopian State Minister of Mines.
The focus on Africa due to the fact that Africa accounts for 9.5% (132 billion barrels), the world's proven oil reserves and 12% (478 million tons) of world production. "The approach preferred by Indian companies is to work with national oil companies in Africa," said Singh.
African country to become the area of Indian companies, they are now an alternative to oil in the Western countries in Asia that offer service contracts and non-production-sharing ones. Indian companies can share the output of the last field in exchange for exposure.
"Africa is our focus area oil and gas imports," said Sudhir Bhargava additional secretary of India's oil ministry. India and China, as growing economies, the supply of fuel to feed its growing energy needs and it has pitted these geopolitical race to acquire as much resources as possible in the world. China has a significant presence in Africa's hydrocarbon sector, and some experts partially attribute this failure on the part of India active in African countries, both politically and economically.
"This (conference), not only dictate the use of our search for resources. India has become one of the largest investors in many African countries," said Shiv Shankar Mukherjee, former Indian High Commissioner to South Africa and on international affairs adviser to FICCI. In recent years, India has come up with scrambled cohesive economic diplomacy policy in Africa.
"In the current decade, the sudden our relations with the African. It was quite often neglect of criticism in Africa. It was not really the case," Mukherjee said.
In another development, Singh, answering questions on Reliance Industries Ltd (RIL), which begins with arbitration looming government reported move to limit the costs recoverable company to develop the D6 area of Krishna-Godavari basin, depending on the exercise, said: "We have a letter from RIL. Whatever problems there were, we and to learn whatever needs to be done is done. "
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Article Source:- http://www.livemint.com/2011/12/05170848/India-looks-to-Africa-for-secu.html?h=A1
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