Energy cooperation in focus,India and Russia vow to widen scope of bilateral ties

India and Russia on Thursday reiterated their commitment to take their strategic partnership forward and to continue to widen the scope of bilateral cooperation by launching large-scale initiatives in different spheres.

Sharing their vision for the 21st century through a joint declaration signed here this evening, Prime Minister Narendra Modi and Russian President Vladimir Putin both said that the two countries would look for ways to "enhance and enrich our bilateral agenda so as to make it more result-oriented."

Focusing on enhancing cooperation in the energy sector, the St. Petersburg Declaration said, "The economies of India and Russia complement each other in the energy sector. We will strive to build an 'Energy Bridge' between our states and expand bilateral relations in all areas of energy cooperation, including nuclear, hydrocarbon, hydel and renewable energy sources and in improving energy efficiency."

 

The declaration added,"India and Russia note that wider use of natural gas, an economically efficient and environmentally friendly fuel, which has become an integral part of the global energy market, is highly significant for reducing greenhouse gas emissions and will assist in fulfilling the provisions of the Paris Agreement on Climate Change, as well as achieving sustainable economic growth."

"Cooperation in the peaceful uses of nuclear energy has emerged as one of the hallmarks of the strategic partnership between the two countries, contributing to India's energy security and energizing broader scientific and technological cooperation. With concerted efforts on both sides, there has been a series of steady and demonstrable achievements in our civil nuclear partnership, including advancing nuclear power projects at the Kudankulam site and transforming it into one of India's largest energy hubs."

"We welcome the conclusion of the General Framework Agreement and Credit Protocol for Units 5 and 6 of the Kudankulam Nuclear Power Plant. We will work towards the implementation of the strategic vision for strengthening cooperation in peaceful uses of atomic energy signed between the two countries on December 11, 2014. The future of Indian-Russian cooperation holds great promise across a wide spectrum covering nuclear power, nuclear fuel cycle and nuclear science and technology."

"The growing partnership in the nuclear power sector between India and Russia has opened opportunities for developing advanced nuclear manufacturing capabilities in India in line with Government of India's "Make in India" initiative. India and Russia commit themselves to earnestly implement the "Programme of Action for Localization in India" signed on 24 December 2015, and to encourage their nuclear industries to engage closely and foster concrete collaborations."

The declaration further stated, "We are interested in launching joint projects on exploration and exploitation of hydrocarbons in the Arctic shelf of the Russian Federation. We will develop joint strategies to harness the potential for mutually beneficial cooperation in the field of deep sea exploration and development of hydrocarbon resources, poly-metallic nodules, and other marine resources utilizing strengths in the field of maritime research and training to develop mutually beneficial cooperation."

It added, "We welcome cooperation among energy companies of both states in modernizing the existing power stations and building new ones in the territory of India. We will endeavour to develop joint projects in each other's countries through sharing of technologies, experience of working in different terrains and climatic conditions, and use of energy efficient technologies for creation and propagation of cleaner, climate friendly and affordable energy resources.