Union Minister Dharmendra Pradhan on Wednesday called Russian Energy Minister Alexander Novak and discussed ways to strengthen India-Russia energy co-operation.
In the telephonic conversation, both ministers also deliberated upon making the hydrocarbon sector an important pillar of India-Russia Special and Privileged Strategic Partnership.
Pradhan conveyed his concern on the growing crude oil price volatility since the last few weeks and urged Moscow to continue playing a balancing role in its engagement with the member countries of the Organisation of the Petroleum Exporting Countries (OPEC) by taking into account the interests of oil consuming countries.
The ministers further reviewed the investments in hydrocarbon sector recognising that India and Russia are one of the largest investors in each others' hydrocarbon sector.
Pradhan also conveyed India's interest to further enhance footprints in the Russian exploration and production sector. He invited Russian oil and gas companies to invest in building gas infrastructure in India and in the expansion of city gas distribution networks.
Both ministers agreed to work closely in the coming months to develop a more comprehensive hydrocarbon engagement keeping in view a long-term perspective.
Disclaimer: No Business Standard Journalist was involved in creation of this content
