India-Backed Petroleum Depot Unveiled in Bhutan to Boost Energy Security
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Synopsis
On February 18, Bhutan's Minister Lyonpo Namgyal Dorji inaugurated a significant project funded by India, aimed at enhancing energy security in the nation. The Garmani Eastern Petroleum Oil Lubricants Depot in Monggar represents a key milestone in ensuring reliable fuel supply and strengthening the India-Bhutan relationship.
Key Takeaways
- Garmani Eastern Petroleum Oil Lubricants Depot inaugurated in Monggar
- Cost of the project: 324.684 million Bhutanese Ngultrum
- Enhances fuel storage and distribution capacity
- Promotes bilateral trade in the hydrocarbon sector
- PM Modi received Bhutan's highest civilian award
Thimphu, Feb 18 (NationPress) The Minister for Industry, Commerce, and Employment of Bhutan, Lyonpo Namgyal Dorji, officially launched an India-funded initiative on Tuesday aimed at enhancing energy security and distribution in the country.
The Garmani Eastern Petroleum Oil Lubricants Depot (POL) project in Monggar was inaugurated by Dorji as part of an India-Bhutan friendship initiative under the Trade Facility Support (TFS), as reported by the Indian Embassy in Thimphu.
This significant project, with a budget of 324.684 million Bhutanese Ngultrum, demonstrates thorough planning and dedicated efforts, marking a critical advancement in ensuring a dependable fuel supply for Bhutan.
The newly constructed residential and emergency facilities will greatly enhance the capacity for fuel and LPG storage and distribution, thereby improving readiness for natural disasters and emergencies, according to Bhutan's Ministry of Industry, Commerce and Employment.
The ministry noted, “This facility is a symbol of progress, resilience, and a shared commitment to the welfare of communities in the region and neighboring Dzongkhags.”
The Indian Cabinet has approved the signing of a Memorandum of Understanding (MoU) with the Bhutanese government regarding the general supply of Petroleum, Oil, and Lubricants (POL) and related products from India to Bhutan in anticipation of Prime Minister Narendra Modi's visit to Bhutan in 2024.
The MoU aims to boost bilateral trade in the hydrocarbon sector and ensure a secure and long-term supply of petroleum products to Bhutan. This initiative not only supports a self-reliant India, as exports are vital for achieving Aatmanirbhar Bharat, but also strengthens economic and commercial ties with Bhutan without any discrimination based on gender, class, or income, especially in the hydrocarbon sector.
During his significant visit, PM Modi was honored with the Order of the Druk Gyalpo, Bhutan's highest civilian award, by King Jigme Khesar Namgyel Wangchuck, recognizing his exceptional efforts in fortifying the India-Bhutan partnership. Notably, he was the first foreign national to receive this esteemed honor.
