India, Russia to study feasibility of LNG pipeline
11 Dec 2014
India and Russia will study the possibilities of building a hydrocarbon pipeline system connecting the Russian Federation with India as the two countries plan to significantly expand bilateral cooperation in the field of energy, including oil and gas, electric power production, nuclear energy, renewable energy sources.
Russia is one of the top oil producers globally and has huge reserves of natural gas and, with India in quest for energy security, there are natural complementarities in the area of energy.
The leaders envisage broader collaboration between hydrocarbon companies of the two countries in oil and gas exploration and production as well as in LNG projects and supplies.
It is expected that Indian companies will strongly participate in projects related to new oil and gas fields in the territory of the Russian Federation. They will also examine avenues for participation in petrochemical projects in each other's country and in third countries.
India, which is the third largest oil importer after the US and China - has been pushing for greater involvement in major gas and oil exploration projects in Russia and both the leaders are set to discuss the issue.
The leaders have encouraged Indian and Russian companies to pursue greater participation in each other's power generation projects, as also in supply of equipment, technology for enhanced oil recoveries and extraction of coal, including coking coal.
The two countries view nuclear energy as a clean, reliable and viable source of energy. Towards this objective, the Indian side agreed to expeditiously identify a second site, in addition to Kudankulam, for the construction of the Russian-designed nuclear power units in India.
India and Russia will also expand their cooperation in science and technology, industry, localisation of equipment and spares, uranium mining, fabrication and supply of nuclear fuel, management of spent fuel and in other aspects of the nuclear fuel cycle.