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(Opinion) China and India should enhance trust for energy deals

2017-03-16 09:04:37       source:Global Times

March 15, 2017

"China and India accounted for approximately 60 percent of incremental world energy demand in 2015. The two countries share a lot of similarities in regards to energy including a rapid increase in demand, unitary coal-dominated energy structure, shortage in oil and gas and a high dependence on foreign oil. To ensure energy security, both China and India are looking for long-term and stable energy import sources and are seeking to cooperate with oil producers in the Middle East, Central Asia and Africa.            

China and India are competing to secure energy investment overseas, especially in oil and gas. They have vied for the right to develop oil in Angola in Southwest Africa and Ecuador in South America. Whoever wins the bids, both countries will inevitably pay a high cost. "

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