Acknowledging natural complementarities in the area of energy, both India and Russia will expand manifold bilateral cooperation in the field, including oil and gas, electric power production, nuclear energy, renewable energy sources, and energy efficiency.
The bilateral program on enhanced cooperation in oil and gas sphere’ underlines the serious commitments of the two sides to develop cooperation in this area of great promise. 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.
The sides will promote natural gas utilization as an abundant and environmentally friendly source of energy for diverse purposes in their economies, including motor fuel and feedstock. 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.
The sides will study the possibilities of building a hydrocarbon pipeline system, connecting the Russian Federation with India. They will also examine avenues for participation in petrochemical projects in each other’s country and in third countries. 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. They have a joint vision for cooperation in nuclear energy, aimed at serial construction of nuclear power units, based on Russian design, as also on and existing and possible future bilateral agreements. India and Russia will expand their cooperation in science and technology, industry, localization 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. 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 work together to further strengthen regional multilateral cooperation in the field of energy. In this context, the sides recognize that the first Asia-Pacific Energy Forum (APEF), held in the city of Vladivostok in May 2013, has laid the foundation for an enhanced regional energy dialogue under the auspices of the UN Economic and Social Commission for Asia and the Pacific (UNESCAP). They will be guided by the provisions of the ‘APEF Ministerial Declaration’ and ‘Plan of Action on Regional Cooperation for Enhanced Energy Security and the Sustainable Use of Energy in Asia’, endorsed by UNESCAP Resolution 70/9.
The energy efficiency agencies of the sides will engage more closely to exchange experiences and best practices. India and Russia will also cooperate in the development and efficient use of renewable energy .
President Putin arrived in New Delhi late last night on a two-day visit to attend the 15th India-Russia annual summit.
The India- Russia Annual Summit was initiated under President Putin’s leadership during his visit to India in October 2000. (ANI)