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India, US set up joint task force on natural gas

Press Trust of India  |  New Delhi 

and the US today decided to set up a on with a view to promote strategic and economic interest of the two nations.

The two sides, during the ministerial level talks, also reaffirmed their commitment to early and full implementation of their civil nuclear partnership, including the civil nuclear project at Kovvada, said a joint statement here.

The statement was issued after of Petroleum and Dharmendra Pradhan and US of Rick Perry co-chaired the inaugural meeting here today of the US-Strategic Partnership, which and had announced during their June 26, 2017 Summit in Washington, D.C.

The statement said the cooperation in this area (nuclear energy) is being pursued through relevant bilateral mechanisms.

As a first step in realising the full potential of the Strategic Partnership, the US and are pleased to announce the US-India Task Force, it added.

The task force provides a team of US and Indian industry experts with a mandate to propose, develop, and convey, innovative policy recommendations to the in support of its vision for natural gas in the economy of India.

The work of the task force is expected to advance the strategic and economic interests of both the US and India.

The joint statement said that the teams will convene soon to further develop action plans for the respective pillars of cooperation. The US and Indian co-chairs will receive reports from the pillar teams on a regular basis.

Today, Perry and Pradhan led a high-level discussion with senior US and officials that outlined their vision for the and key areas of engagement.

Under the partnership, the US and India will pursue four primary pillars of cooperation: oil and gas, power and energy efficiency, and sustainable growth and coal. Both parties may consider establishing additional pillars of cooperation based on mutual agreement, it said.

The elevates the role of energy in advancing shared goals, including universal energy access, strengthened and increased

The partnership will create important opportunities for advancing favourable policies and commercial investments in support of these goals, including in

In keeping with the shared objectives to provide a stronger business orientation to our energy cooperation, both sides noted with appreciation the growing investment of Indian companies in the US and the beginning of exports from the US to India, the statement.

The partnership affirms the strategic importance of to the US-India bilateral relationship and sets the stage for deeper and more meaningful engagements through government and industry channels. As leading global partners, the US and India believe that can serve as a centrepiece in the bilateral relationship, it added.

Through the partnership, the US and India collectively seek to enhance energy security, expand energy and innovation linkages across respective energy sectors, bolster our strategic alignment, and facilitate increased industry and stakeholder engagement in the

During a press conference, responding to a question about the US inking International Solar Alliance (ISA) treaty, Perry said that promotion of is more important than signing a document.

Earlier, during the ISA founding conference last month, the had said the US and are actively participating talks for inking ISA treaty.

On the price of gas, Perry said the US and India share a lot of values. He was of the view that some countries can give but it is the long-term relation that matters.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 18:20 IST