The two sides welcomed the interest of Indian companies in cooperating in the Russian Far East
Russian envoy to India Denis Alipov on Thursday held a meeting with Pankaj Jain, Secretary, Indian Ministry of Petroleum and Natural Gas and discussed the cooperation of the two nations in the energy sector.
Alipov wrote on social media, "On July 28, had a cordial meeting with Shri Pankaj Jain, Secretary, Indian Ministry of Petroleum and Natural Gas. Discussed prospects for Russia-India cooperation in energy sector including our joint ongoing projects."
At the invitation of Prime Minister Narendra Modi, Russian President Vladimir Putin paid a working visit to New Delhi on December 6, 2021 for the 21st India-Russia Annual Summit.
The two sides positively assessed the multi-faceted India-Russia relations that span various areas of cooperation including political and strategic, economy, energy, military and security, science and technology, culture and humanitarian cooperation. They noted that while the traditional areas of cooperation are being further strengthened, new drivers of growth have led to diversification and expansion of bilateral cooperation.
The two sides welcomed the interest of Indian companies in cooperating in the Russian Far East. Energy, transport and logistics, maritime connectivity, diamond processing, forestry, pharmaceuticals & healthcare, tourism and humanitarian fields have been identified as areas of further cooperation in the Russian Far-East.
PM Modi and Russian President Putin reaffirmed their commitment to increasing the sourcing of Russian crude oil on long-term contracts through preferential pricing, strengthening LNG imports to India, and the possible utilization of the Northern Sea Route for energy supplies.
The two sides further agreed for the expansion of cooperation in gas sector and welcomed the creation of the Gas Task Force to identify mutually beneficial areas including the development of investment in gas infrastructure and distribution projects, use of natural gas in transport and emerging fuels including hydrogen.
They also agreed to consider prospects for expanding cooperation in hydro and thermal power, energy efficiency and the sector of renewable energy. They also noted the need for cooperation in the hydrogen economy, and low-emission development, including the exchange of best practices, as reported by ANI, a partner of TV BRICS.