Shipping agreement near between Naik and Singh

Vol 4, PW 15 (30 Aug 00) News in Brief

Agreement is close on a LNG shipping policy for India, following a meeting between oil minister Ram Naik and Rajnath Singh, the surface transport minister.

The 18th August meeting ended with both men agreeing to adopt a joint approach to the LNG shipping policy, which sharply divided them before. During the meeting the two ministers agreed that Indian liners would have a mandatory 26% stake in any consortium.

In February this year the surface transport ministry protested a pre-qualification notice issued by Petronet-LNG, which it said discriminates against Indian shipping lines. Petronet-LNG has fixed September 15th as a deadline for final bids.