Russia invites India to jointly develop hydrocarbon projects

Moscow, Nov 1 (IANS/TASS) Indian companies will be able to participate in development and production of hydrocarbons in the Arctic and in East Siberia, Russia's Deputy Minister of Energy Yuri Senutin told TASS news agency Saturday.

The high-ranking official participated in a meeting of a Russia-India working group on energy and energy effectiveness.

"For the first time ever we have suggested to the Indian companies participating in projects in development and production of hydrocarbons in Russia, including in the Arctic and in East Siberia, in their processing and supplies," the deputy minister said.

Russia also has suggested involving India in Russian gas projects, including in the Sakhalin-1, where a second stage of an LNG plant will be built.

"We are considering an option to build a second stage of the plant to increase our export opportunities," the deputy minister said. "India may choose from different ways of participation in the project."

He said Russia's Novatek company continued talks with Indian companies about their participation in development of the LNG projects in Yamal.

"Our delegation also has representatives of the Novatek company, who have confirmed they are interested in attracting Indian strategic partners, and we have fixed in the protocol that the Russian side invites India for development of LNG projects, which the company has in the Gydan Peninsula and in the waters of the Gulf of Ob," the deputy minister said.

--IANS/TASS

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