India undertakes transportation of oil from Caspian region

Feb 09, 2009 01:00 AM

The Minister of Petroleum & Natural Gas Shri Murli Deora informed the Rajya Sabha in a written reply that at present, bulk of India's crude oil is imported from the countries in the Middle East, namely, Saudi Arabia, Iran, Iraq, UAE and Kuwait. Crude oil is also imported in significant quantities from Nigeria, Malaysia and Angola. During the last 3 years, import of some crude oil from the Caspian Sea region, particularly Azerbaijan, has also been made.
Shri Deora also informed that the Foreign Minister of Turkey, during his visit to India in February 2008, had outlined a proposal for cooperation between Turkey, Israel and India for transportation of crude oil from the Caspian region through the Mediterranean and Red Sea and into India.

Briefly, this project envisages transport of crude oil from Ceyhan port in Turkey to Ashkelon port in Israel in the Mediterranean Sea, initially through very large crude carriers (VLCCs) and eventually by laying a sub-sea pipeline. Thereafter, crude oil will be transported through the existing Ashkelon-Eilat pipeline in Israel to Eilat port on the Red Sea. From there, crude oil may be carried to India/other parts of Asia.
The project is still in a conceptual stage and requires a detailed feasibility study to establish its techno-commercial viability. A tripartite meeting between Turkey-Israel-India was held in September 2008 at Ankara to discuss conceptual features of the project.

He further said that since the project is still in the conceptual stage, the cost of such oil can not be determined at this juncture.
"Our import of crude oil from various sources is decided after due consideration of its overall economics, taking into account particularly factors such as crude oil's technical suitability, price, transportation cost, yield and sustained availability."

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