New Delhi: The central government has become active in this direction in view of the increasing energy requirements in India. The government is going to strengthen relations with the Gulf countries to meet the country's energy needs. In this connection, Union Minister of Petroleum and Natural Gas Dharmendra Pradhan will be visiting Saudi Arabia, United Arab Emirates, and Qatar from Saturday to September 12, the three biggest countries important for India's energy security. The aim is to discuss the possibility of reducing the price of gas being bought by Qatar.
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Currently, India is buying gas from Qatar at almost three times the current international rates. Saudi Arabia and the UAE jointly sell 30 percent of the oil needed by India, while India takes about 50 percent of its requirement from Qatar alone. India is also the largest customer of Qatar's gas. Qatar had reduced the price of gas for India in the year 2015 when India was said to save Rs 13000 crore annually.
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Now, given the steep fall in the price of gas in the international market, it has to be seen how much relief Qatar is willing to give to India. The Petroleum Minister will attend the 8th Asian Ministerial Conference on Energy in Abu Dhabi. India is organizing this conference jointly with the UAE. Under the UAE-India strategic meeting, the agreement between the two countries will be reviewed separately. Let us know that recently the Saudi oil company has made a big investment in Reliance.
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