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Myanmar offered $20-m credit for refinery revamp
Jan 12, 2005 (Times News Network) - India on Tuesday put a $20 million line of credit on the table for Myanmar refinery revamp, ahead of Wednesday's crucial trilateral talks involving Bangladesh on laying a regional gas pipeline.
Oil minister Mani Shankar Aiyar offered the line of credit during his meeting with Myanmar PM Soe Win in Yangon on Tuesday and expressed New Delhi's wish for expanding its participation in that country's energy sector.
Before going to Myanmar for the trilateral meeting, Aiyar had held talks with his Chinese counterpart attending the regional crude buyer-seller Round-Table. The talks were aimed at impressing upon the Chinese that there was enough room for both to do energy business in third countries, including in joint venture, without mutually destructive competition. China recently beat Indian efforts to acquire stake in more gasfields in Myanmar where ONGC and GAIL already hold equity in two fields.
Having softened up the Chinese, Aiyar will push hard for an onland pipeline through Bangladesh to bring India's share of gas from Myanmar fields as this is the cheapest option. He has gone with three route options:
*Through
Mizoram and Tripura to Bangladesh on to India
*Through Cox's Bazar and Chittagong on to India
*Through the Barak Valley.
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