i Develop Stocks Advisory

Reliance eying petrochem project in Qatar Reliance Industries is keen to set up a petrochemical complex in Qatar especially for polymer production. The company is "definitely interested in establishing a world-scale petrochemical complex here with Qatar Petroleum," R P Sharma, president (LNG business) of Reliance Industries who was in Qatar to attend the Middle East Gas Summit, said. Sharma said India had a huge market for polymers. "India consumes a lot of polymer and is a huge market," he was quoted as saying by Gulf Times daily. Earlier, making a presentation on "Emerging trends in India and China" transnational pipelines and LNG at the summit, Sharma said domestic gas production in the two countries was expected to increase rapidly over the next 15 years. Consumption was expected to be growing even faster, making gas imports necessary for both India and China. India also plans to import some 22.5 mn tonnes to eet its demand in 2011 and 2012. The development of gas transmission and distribution networks in China and India is opening greater export opportunities for Russian and Middle Eastern gas, he said. "Over a period of time, China and India may move from the role of a price-taker to price-maker in the Asia-Pacific region," Sharma said.