'India wants more oil, gas from Russia'

The government is planning to get more oil and gas from Russia as part of its efforts to diversify sources of energy, Petroleum Minister Murli Deora said today.

"Russia is our important friend, and we look towards them when we think of our energy needs and security," Deora said at a function organised to mark the arrival of first crude oil from the Sakhalin-I project in Russia.

OVL, the overseas arm of Oil and Natural Gas Corporation (ONGC), has 20 % stake in Sakhalin-I project. It has shipped 90 thousand tonne (7,00,000 barrels) of crude from its share in the project. The company will ship second cargo by the month-end.

"Russia, being the largest producer of gas and having the largest gas reserves, is definitely important to us. We believe that Russia would be playing a major role in balancing energy access in the globe. The multipolar energy supply chain, which Russia is capable of creating, would help us to diversify our sources," Deora said.

India imports more than 70% of its crude oil requirement, and most of it comes from the Middle East countries.

ONGC's subsidiary Mangalore Refinery and Petrochemicals (MRPL) will process the Sakhalin crude.

"Sakhalin to Mangalore, a new silk route, a route of more than 5,700 nautical miles, is the new route of integration," Deora said.