Strengthening Energy Security Ties Further, India-Funded Petroleum Depot Opened In Bhutan

(MENAFN- IANS) Thimphu, Feb 18 (IANS) Bhutan's Minister for Industry, Commerce, and Employment Lyonpo Namgyal Dorji on Tuesday inaugurated a project funded by India that will further strengthen energy security and distribution in the land-locked country.

The development of Garmani Eastern Petroleum Oil Lubricants Depot (POL) in Monggar, which was inaugurated by Dorji, was taken up as an India-Bhutan friendship project under Trade Facility Support (TFS), the India Embassy in Thimphu posted on X.

The milestone project, which cost 324.684 million Bhutanese Ngultrum, reflects meticulous planning, dedicated efforts, and a significant step forward in ensuring reliable fuel supply to Bhutan.

The newly-built residential and emergency infrastructure will significantly improve the capacity to storage and distribution of fuel and LPG, ensuring preparedness for natural disasters and emergencies, detailed Bhutan's Ministry of Industry, Commerce and Employment.

"This facility stands as a testament to progress, resilience, and a collective commitment to the well-being of communities in the region and neighbouring Dzongkhags," the ministry stated.

The Indian Cabinet gave its approval for the signing of a Memorandum of Understanding (MoU) with the Government of Bhutan on the general supply of Petroleum, Oil, Lubricants (POL) and related products from India to Bhutan ahead of Prime Minister Narendra Modi's visit to Bhutan in 2024.

The MoU emphasised promoting bilateral trade in the hydrocarbon sector and ensuring a secured and long-term supply of petroleum products to Bhutan. It not only gave thrust towards a self-reliant India since exports play a crucial role in realising an Aatmanirbhar Bharat, but also improved economic and commercial linkages with Bhutan irrespective of any gender, class, or income bias, particularly in the area of hydrocarbon sector.

During his landmark visit, PM Modi also received the Order of the Druk Gyalpo, Bhutan's highest civilian decoration, from the King of Bhutan Jigme Khesar Namgyel Wangchuck. The award was in recognition of Prime Minister Modi's outstanding contribution to strengthening the India-Bhutan friendship. The Indian PM was also the first foreign national to be conferred the prestigious award.

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