Natural gas to play major role in bilateral trade with India: Cyprus

Natural gas will play a major role in bilateral trade between India and Cyprus, a Cyprus diplomat said on Monday at Kolkata.

“India is a major natural gas importer. Cyprus may export gas to India," Cyprus High Commissioner to India Demetrios A Theophylactou said during an interactive session at the Merchants' Chamber of Commerce and Industry.  

He further informed the Chambers of Commerce that no serious dialogue has yet been initiated between the two countries in connection to the import and export of natural gas.

India plans to double share of natural gas in the country’s energy mix to more than triple imports per year by 2022. India plans to import at least 70 million tonnes by the next four years.

Vishal Jhajharia, Merchant’s Chamber vice-president, informed the media that in 2015-16 bilateral trade between the countries was USD 107 million.