Energy agreements with Russia to be firmed up in Feb

Deora is on a three-day visit to Moscow to conduct talks on further cooperation in the field of hydrocarbon.

He said Zubkov assured of Russia ‘s support in India’s quest for energy security. “Cooperation in hydrocarbon sphere was one of the main planks of bilateral strategic partnership.”

Deora said the emphasis was on mutually beneficial projects in upstream, mid-stream and down stream sectors in India, Russia and third countries between hydrocarbon sector companies of the two nations.

The two sides agreed that the national oil companies of the two countries should concretise mutually beneficial projects in the fields of exploration and production, grassroots refineries, modernisation of refineries, gas based petrochemical plants, gas processing plants, participation in liquefied natural gas.

Deora said the growing refining sector in India offers opportunities for Russian companies to participate. He said talks would continue at the second Indo-Russian Trade and Investment Forum in New Delhi in February. Zubkov is expected to lead a large Russian business delegation at the forum. He will also inaugurate the “Year of Russia in India.”

Deora said India was looking for participation in the Kiriinsky Block of the Sakahlin-3 offshore project with Rosneft.