India forms international Oil & Gas think-tank to advice on issues

In a bid to accelerate its policy reforms in the key focus areas of the oil and gas sector, the government has formed an International Oil and Gas think-tank which will advice the government on issues related to pricing, gas infrastructure, better financial models for exploration and extraction of hydrocarbons and reducing import dependency.

Oil Minister Dharmendra Pradhan chaired the first meeting of the think-tank yesterday and announced that Daniel Yergin, Vice-chairman of IHS will also be a part of the group. “We have formed an international think-tank which will be advisory in nature and will provide guidance in creating a better gas infrastructure, bringing in the latest technology, financial models for oil and gas, creation of a gas exchange platform, attracting investments and reducing import dependency,” Pradhan said at an industry event.

He added that the ministry needs to adopt the emerging international financial models. The members of the think tank will include Chief Executive of Alternative Energy at BP, Dev Sanyal; Executive vice president Technology at Schlumberger, Ashok Belani; Economist and Head of Government Committee on natural gas price, Vijay Kelkar; Managing Director and Chief Executive Officer of ICICI Bank, Chanda Kochhar; Chief of the New Development Bank of BRICS countries, K V Kamath; Managing Director of Hindalco Industries, Satish Pai; and Chief Executive Officer at Delonex Energy, Rahul Dhir.