Wednesday, February 02, 2005

China Gas to sell up to 10 pct stake to India's GAIL

As the cliché goes, while the ink in the BusinessesWeek article (India and China: Oil Patch Partners?) is still wet, there comes the big bang! Yes, they have done it! India and China have gone beyond PR campaigns to prove that they are taking the co-opetetion route when it comes to snagging up oil supplies. Reuters says that China Gas to sell up to 10 pct stake to India's GAIL.

Although the event itself may not be shocking or surprising, the timing might have sent many analysts for a six! Energy pundits are closely watching the new courtship between China and India in the oil and gas sector. While everyone was expecting some kind of co-operation, nobody would have though it might happen so soon.

As the world starts speculating about another start of a fresh cold war between these two giants of Asia, India and China are slowly cozying up with each other. They are going out of their way to prove that it is a fresh start and they want it to be a different story this time around. Will this result in the next romantic courtship that other adversaries can emulate to end their decades old rivalry? Well, only time can tell.

Although, mistrust and competition runs deep inside both these partners, they have decided to join hands together in areas they cant go alone or where competition ruins both their interests.

Some of the questions hovering around in my mind now are: what impact will it have on other aspects? Will it herald a new era of peace and co-operation across Himalayas? Will it have a positive impact on Indo-Pak ties? Is US already scripting a strategy to break this nascent relation? Or is it just a stunt by one of the parteners to take a score on the other??

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