Indians interested in JSC NOVATEK

PIB. — The Prime Minister Narendra Modi addressing at the plenary session of 5th Eastern Economic Forum (EEF), at Vladivostok on 5 September 2019.

Russia will encourage its public and private sector companies to participate in gas projects in India, particularly in the development of gas pipeline networks and city gas distribution infrastructure in India, said the Petroleum and Natural Gas Ministry on 4 Sept 2019.

India’s private and public companies will explore the possibility of collaborating in LNG projects, including the possibility of development of closer cooperation with Russian companies, including the LNG Arctic projects of JSC NOVATEK.

The Indian and Russian officials have welcomed the interest of JSC NOVATEK to enhance LNG supplies to India and joint development of gas market in India including but not limited to LNG infrastructure projects in collaboration with Indian companies.

Minister D. Pradhan and Russian Energy Minister A. Novak have discussed this in detail during Prime Minister Narendra Modi’s visit to Vladivostok.

The Ministry said the India-Russia hydrocarbon cooperation is a major pillar of India-Russia strategic partnership.

Both sides have also welcomed cooperation in the upstream sector of Russia, India and third countries between the leading oil & gas companies of Russia and India.

Both sides express satisfaction at the good progress in Indian investments in oil and gas assets in Russia. India will look for further investment opportunities in producing oil and gas fields in Russia.

The two Sides will continue to encourage further enhancement of cooperation in the upstream sector and continued dialogue between the leading companies in this regard.

The Russian investment in Indian refining sector has been a welcome step. The Indian side would invite further investment from Russian public and private sector entities into Indian refining, petrochemical and associated sectors.

The two Sides will work for identification of new projects of cooperation in this sector.
The two Sides will strive to reach agreements as regards to the establishment of mutually beneficial channels for the supply of crude and fuel oil to Indian refineries.

Both Sides will strengthen and diversify existing training exchange program and create new ways of enhancing knowledge exchange, joint research in energy sector, including those in emerging technologies.

Both Sides agree to explore possibility of undertaking joint projects in third countries in the energy sector. Fiinews.com