India and Qatar have signed and initial agreement in for cooperation in oil and gas sector. The co-operation will focus in refining the oil besides gas exploration. The oil and gas agreement was signed after Qatar's Emir Emir Sheikh Hamad bin Khalifa al-Thani met Prime Minister, Dr. Manmohan Singh in New Delhi on 9th April and discussed the issue.
From the Indian side the agreement was signed by Oil and Natural Gas Minister Jaipal Reddy and Energy Minister of Qatar Mohammed Bin Saleh al-Sada.
It envisages cooperation in the areas of upstream and downstream oil and gas activities. It is expected to encourage and promote investment and cooperation between two ministries of oil and gas and through affiliated companies.
Qatar is the largest supplier of LNG to India, which buys 7.5 million tonnes/per year of LNG from it. India wants to have huge additional supply of oil and LNG from Qatar but pricing is an issue.
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