Australian independent Woodside Petroleum and Indian conglomerate group Adani have formed an alliance in order to strengthen trade relationships between the two countries ahead of a possible free trade agreement (FTA) this year. Woodside and Adani signed the non-binding agreement on 11 January as part of Australia’s biggest trade mission to India, led by federal trade minister Andrew Robb. The deal covers cooperation in identifying, investigating and developing potential business arrangements and commercial initiatives, Woodside says. Under the deal, opportunities to source and market LNG will be explored, including the establishment of supply and purchase arrangements for India, and investment in upstream activities and production and liquefaction plants, Adani says. The Indian firm may be looking to invest in Woodside’s Australian LNG projects to secure supply for its proposed 5mn t/yr import facility in Gujarat state (AGL, September 2011, p3).
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