India Expects US$118 Billion Spending On Energy Projects In Next Five Years

By Shakir Husain NEW DELHI, July 16 (Bernama) -- India is looking for greater cooperation with the United States in the oil and gas sector and expects to carry out energy projects worth US$118 billion (US1 = RM4.26) in the next five years. Petroleum Minister Dharmendra Pradhan in an interaction with the US-India Business Council (USIBC) on Wednesday invited US companies and investors to participate in new energy opportunities, his ministry said in a statement on Thursday. It also said cooperation in the natural gas sector has been identified as a priority area in the growing US-India energy partnership and new opportunities exist in areas such as LNG bunkering, LNG ISO container development, petrochemicals and biofuels. The projected five-year spending of US$118 billion will be on energy exploration and natural gas infrastructure, according to the Ministry of Petroleum and Natural Gas. -- BERNAMA