Date:10/02/2006 URL: http://www.thehindubusinessline.com/2006/02/10/stories/2006021001800700.htm

Back India, US ink pact for info exchange in hydrocarbons

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An agreement would be signed between the Directorate General of Hydrocarbons and its US counterpart — Geological Survey — to carry out work in gas hydrates.

Mr David Garman (left), Under Secretary, Department of Energy, US, exchanging documents with Mr M.S. Srinivasan, Secretary, Ministry of Petroleum and Natural Gas, after signing an MoU in the Capital on Thursday. — Ramesh Sharma

New Delhi , Feb. 9

INDIA and the US on Thursday inked an "arrangement for exchange of information relating to the hydrocarbon sector" to facilitate sharing of energy data and analysis techniques between the two countries.

The Petroleum Secretary, Mr M.S. Srinivasan, and the Under Secretary of the US Department of Energy, Mr David K. Garman, signed the agreement. The objective of cooperation under this arrangement is to establish for mutual benefit, a reasonably balanced exchange of information in the sector, Mr Srinivasan said.

For the US Department of Energy and the Ministry of Petroleum and Natural Gas cooperative activities under this arrangement are to be conducted by the Energy Information Administration and the Petroleum Planning & Analysis Cell, respectively. Information to be exchanged includes annual hydrocarbon sector market statistics relating to production, imports, exports, stocks, bunkers, transformation and demand, and other related data and information concerning fuel characteristics, refining capacity, and reserves. After signing the agreement, Mr Srinivasan told media persons that both countries are going to sign two more memoranda of understanding. An agreement would be signed between the Directorate General of Hydrocarbons and its US counterpart — Geological Survey — to carry out work in gas hydrates.

Another agreement will be signed between Oil Industry Safety Directorate and United States' Mineral Management Services to work together in the safety aspects of the hydrocarbon sector. Mr Srinivasan said the exchange of information will improve understanding of energy sectors issues and will be valid for a period of five years from the date of signing the memorandum.