India, Turkmenistan ink MoU on oil, gas cooperation

Giving a major boost to bilateral ties, India and Turkmenistan today signed a Memorandum of Understanding (MoU) for facilitating cooperation in oil and natural gas sector at a time when New Delhi was looking towards Central Asia to meet its growing energy needs.

Minister of State for External Affairs E Ahamed and Tukmenistan Deputy Prime Minister for Oil and Gas Tachberdy Tagiev inked the MoU that would facilitate contacts between Indian companies and those of this hydrocarbon-rich country.

The MoU was the highlight of the Vice-President Hamid Ansari's visit to this Central Asian country, which is among the world's top ten countries in gas reserves.

Ansari said that India regards itself as the "natural partner" of Turkmenistan for meeting its requirements of energy. He said Turkmenistan is geo-strategically located and with its vast hydrocarbon resources it has an important role to play in world's energy security.

"India, with its vast requirement of energy and dependence on imports to meet it, is Turkmenistan's natural partner".

Turkmenistan President, Gurbanguly Berdimuhammedov said the participation of Indian companies and enterprises in the oil-gas projects in Turkmenistan was to benefit both the countries.

The Vice-President thanked the Turkman leader for "the formal support we have received about our membership in the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline project".