Govt panel on energy security to meet

A panel of Indian ministers will hold its first meeting later in the day to consider a policy to secure energy supplies for Asia's third-largest economy, Power Secretary Uma Shankar said today.

A panel of Indian ministers will hold its first meeting later in the day to consider a policy to secure energy supplies for Asia's third-largest economy, Power Secretary Uma Shankar said on Thursday.

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"The main agenda is to see how the country's (fuel) supply chain is growing and how it can be maintained," Shankar said.

Another government official said the panel would be headed by Finance Minister Pranab Mukherjee.

He said Coal Minister Sriprakash Jaiswal, Oil Minister Murli Deora, Power Minister Sushilkumar Shinde, External Affairs Minister SM Krishna, Renewable Energy Minister Farooq Abdullah and Planning Commission Deputy Chairman Montek Singh Ahluwalia were among the other members of the group.

India, which imports over two-thirds of its crude oil needs, has been aggressively scouting for energy assets overseas and is competing with Asian rival China.

India imports gas to meet the growing demand from its power and industrial sectors and also ships in most of its coal needs despite owning one of the world's largest coal reserves.