India, Mauritius Sign Oil and Gas MoU; IOCL to Supply Entire Fuel Import Requirement
Port Louis, Aug 21: India and Mauritius have strengthened their energy partnership with the exchange of a Government-to-Government Memorandum of Understanding (MoU) on cooperation in the oil and gas sector, alongside a long-term agreement under which Indian Oil Corporation Limited (IOCL) will supply Mauritius' entire import requirement of key petroleum products.
Union Minister for Petroleum and Natural Gas Hardeep Singh Puri made an official visit to Mauritius from August 20-21. During the visit, he called on Mauritius Prime Minister Dr Navinchandra Ramgoolam on August 20, in whose presence the two countries exchanged the MoU.
The agreement was accompanied by a five-year Sales and Purchase Agreement between IOCL and the State Trading Corporation (STC) of Mauritius. Under the arrangement, IOCL will supply the entire import requirement of Mauritius for Motor Spirit (MS), High Speed Diesel (HSD) and Aviation Turbine Fuel (ATF).
The long-term agreement is expected to provide Mauritius with greater security of fuel supplies and protection from price volatility. It is also the first long-term supply agreement concluded by an Indian public sector oil marketing company outside South Asia in recent years.
The broader oil and gas MoU seeks to institutionalise the longstanding energy partnership between India and Mauritius. It covers petroleum products supply, training and capacity building for Mauritian officials, as well as cooperation in biofuels.
During his visit, Puri also held bilateral meetings with Patrick Gervais Assirvaden, Minister of Energy and Public Utilities; John Michaël Tzoun Sao Yeung Sik Yuen, Minister of Commerce and Consumer Protection; and Dhananjay Ramful, Minister of Foreign Affairs, Regional Integration and International Trade.
The Union Minister also participated in the groundbreaking ceremony for India Oil (Mauritius) Ltd's 27.5 thousand metric tonne (TMT) bunker marine fuel storage facility at Mer Rouge in Port Louis.
India strengthens role as energy partner
India has emerged as a major global refining hub, producing around 267 million metric tonnes of refined petroleum products annually across 23 refineries. The country is also a net exporter of refined petroleum products.
India already meets the petroleum demand of neighbouring Nepal and Bhutan and supplies significant quantities of refined products to several other countries in the region and beyond.
Even amid the ongoing West Asia crisis, India has continued to fulfil its supply commitments to Nepal and Bhutan, reinforcing its position as a dependable energy security partner for the region.
The agreement with Mauritius further strengthens India's role as a reliable energy partner in the Indian Ocean region and positions the country as Mauritius' anchor fuel supplier.
Focus on biofuels and energy transition
The India-Mauritius MoU also expands cooperation in biofuels through knowledge sharing, research and training.
Mauritius is a founding member of the Global Biofuels Alliance (GBA), an initiative piloted by India and launched during India's G20 Presidency.
As part of its country engagement programme, the GBA Secretariat has partnered with Mauritius' Ministry of Energy and Public Utilities to develop a Biofuels Country Landscape Policy framework for the island nation.
Puri and Assirvaden jointly witnessed the launch of the framework on August 21. The initiative marks an important starting point for Mauritius to explore its energy transition through biofuels and strengthen cooperation with India in clean energy.
The latest agreements are expected to deepen India-Mauritius energy ties while providing Mauritius with a more predictable and secure supply of petroleum products.
