Russian Deputy PM discusses energy cooperation with Petroleum Minister Pradhan

Russian Deputy Prime Minister Yury Petrovich Trutnev held a formal meeting with Union Petroleum Minister Dharmendra Pradhan here on Wednesday and discussed issues related to energy cooperation between the two countries.

"We were discussing the issues of energy cooperation. We agreed to continue the discussion with relevant companies in the energy field in India and from Russia," Trutnev said.

Prime Minister Narendra Modi, during his two-day visit to Bishkek last week to attend the Shanghai Cooperation Organisation (SCO) summit, held a bilateral meeting with Russian President Vladimir Putin and also accepted the latter's invitation to be the Chief Guest at the Eastern Economic Forum, scheduled to be held in Vladivostok in early September.

In the meeting, the two leaders reportedly decided to further widen the scope of their economic partnership in the sectors of energy, Arctic region, transfer of technology, joint projects under 'Make in India' initiative and manpower.

Trutnev, who is also the Kremlin's top Far East official, is in India to set the stage for Modi's September visit and explore new areas for enhancing India's presence in the Russian Far East. His visit is likely to be followed by an Indo-Russian Strategic Economic Dialogue here in July.

He said: "We are getting ready for the Eastern Economic forum. We hope that Prime Minister Modi will be the main guest of the forum. We will try to do as much as possible before the meeting of our two leaders."

Russian Far East, located on the transport corridor between Asia and Europe, has unique geographical advantages and untapped energy potential.

Trutnev, after holding meetings with business leaders in Mumbai yesterday, had informed that there were three more companies from India, which have expressed their interest to invest in the Far East besides Tata Power, KGK Diamond and a few more.

Union Minister Pradhan noted that the meeting between Modi and Putin was productive.

"Since the re-election of Prime Minister Modi, there has been a new vigour in the economy of India. In September, a big economic summit will be held in Russia's Far East. Our Prime Minister will be paying a visit there."

"There is a good amount of bilateral investment between Russia and India and we will hold talks on how to increase that volume and on ways to import crude from Russia to India," the minister said.

Earlier in the day, Trutnev also met External Affairs Minister S Jaishankar in New Delhi.