India targets Equatorial Guinea as suitable oil and gas market, boosting FDI in return
Healy Consultants Group PLC
15 February, 2016
While India and Abu Dhabi share strong crude oil import/export ties, the South Asian Country began to search for options to tap into the vast African oil fields. In order to find the best local providers of cheap and quality oil products, India held the fourth largest Hydrocarbon Conference comprising of representatives from 22 African nations, in New Delhi. This meeting will further help India move away and diversify from its sources of crude from volatile West Asia.
However, curiously for gas imports, the small Equatorial Guinea is one of the largest importers of natural gas in India. The annual amounts are increasing by 50% each year, promising great cooperation between the countries. Equatorial Guinea's Government is hopeful this strong cooperation will result in growth nurturing of its African hydrocarbon sector by India. The large importer is also providing its expertise in oil exploration, refining, consultancy, training and infrastructure development to the small African nation.
"India is a valued trade partner of Equatorial Guinea," said Lima. "With several projects under development, we are eager to extend multiple investment opportunities to Indian enterprises and enhance our energy cooperation." Said the Minister of mines, industry and energy of Equatorial Guinea.
Healy Consultants suggests our Indian Clients look closer at the trade volumes between India and Equatorial Guinea and set up a subsidiary quickly, and tap into the multiple business niches available in Africa.
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