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Qatar, India sign energy cooperation agreement

MENAFN - - 10/04/2012


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(MENAFN) Qatar inked an agreement with India to cooperate in oil and gas production, Qatar News Agency reported.

Qatar is currently provides India with 7.5 million tonnes of natural gas per year, making the gas-rich Gulf state the biggest LNG supplier for Asia's third largest economy.

India is also a major importer of Qatari oil, purchasing 5.6 million tonnes in 2010 and 2011.

The deal was signed during Qatari ruler HH Emir Sheikh Hamad bin Khalifa Al Thani's visit to India, which also saw both nations sign agreements relating to tourism, education exchanges and co-operation over legal issues.

The Qatari ruler previously visited India in May 2005 and since then India's bilateral trade with Qatar has grown from USD1.2 billion in 2005 to USD4.6 billion in 2010.

Officials have also reported that the Qatar Investment Authority, the state's sovereign wealth fund, has been looking for investment opportunities in India.

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