Abstract
Energy is a necessary prerequisite to growth and development of emerging India. India has an Integrated Energy Policy to ensure that energy needs of its citizens are met. It has a Hydrocarbon Vision 2025 to guide its oil and gas exploration and production, supply and trade, and consumption and conservation. Securing adequate imports of oil and gas to meet its burgeoning needs is a major policy objective of the Government of India, driving the mission of its Ministry of Petroleum and Gas. Economic and trade ties of India with OPEC members and other oil and gas producers have prospered. Many of these suppliers are members of various coalitions of India in the WTO. In the event that negotiations commence on trade and energy security, such cooperation will be mutually rewarding. This chapter analyzes the composition and India’s energy policy and trade, functioning of trade regimes of OPEC members, and some other main suppliers of oil and gas to India with a view to offer a positive agenda for such negotiations. It concludes inter alia that India has much in common with members of the WTO from the Middle East to develop a common agenda on energy security and tariffs for primary oil and gas and petroleum products.
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Notes
- 1.
Petroleum, oil, and hydrocarbons are terms used interchangeably in this chapter, and include natural gas, except where separated specifically or through context.
- 2.
With the exception of Gabon, Indonesia, and Kuwait.
- 3.
Note that agriculture was also largely out of the purview of GATT disciplines.
- 4.
None of the OPEC members were founding fathers of GATT. US became a net exporter of oil in 1948, and UK and Norway, two other founding fathers, discovered oil only in 1969. Of the OPEC members, all except Algeria, Iran, and Iraq are now members, and these three are observers with continuing or static accession negotiations. All non-OPEC major suppliers are now WTO members.
- 5.
OPEC webpage: http://www.opec.org/opec_web/en/about_us/25.htm (accessed in October 2012).
- 6.
http://www.opec.org/opec_web/en/data_graphs/335.htm (accessed in November 2012).
- 7.
http://www.opec.org/opec_web/en/data_graphs/40.htm (accessed in November 2012).
- 8.
http://www.opec.org/opec_web/static_files_project/media/downloads/publications/OPECLTS.pdf (accessed in December 2012).
- 9.
WTO General Council Decision of 1 August 2004, available at: http://wto.org/english/tratop_e/dda_e/draft_text_gc_dg_31july04_e.htm#invest_comp_gpa.
- 10.
- 11.
Information in this section of the chapter has been taken from the WTO Trade Policy Reviews of the mentioned countries/territories, from the websites of the Oil Ministries of these countries, or from the trade statistics of India on the website of the Department of Commerce, GOI.
- 12.
- 13.
Reviving Article 8.3(c) of the WTO Agreement on Subsidies and Countervailing Measures could be one such effort.
- 14.
Article III.9 of GATT 1994.
- 15.
Article XI.1 of GATT 1994.
- 16.
While the WTO disputes in India-QRs and Japan-Semi-conductors cases have ruled that Article XI.1 is comprehensive enough to cover export restrictions, there has been no ruling on energy dual pricing being covered under ‘other measures’.
- 17.
Including under the Energy Charter Treaty of the European Union.
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Kaushik, A. (2014). India, OPEC, and an Agenda for Energy Security. In: Mathur, S. (eds) Trade, the WTO and Energy Security. Springer, New Delhi. https://doi.org/10.1007/978-81-322-1955-2_5
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