India's decision to bolster its energy ties with resource-rich Russia has nothing to do with the issues faced by the country on purchasing oil and LNG from Iran, Foreign Secretary Vijay Gokhale said on Wednesday.
His comments came as India's Ministry of Petroleum and Natural Gas and Russian Ministry of Energy signed an agreement on the expansion of cooperation in oil and gas sector, along with an MoU on the use of natural gas for transportation.
The two countries also signed a MoU between Coal India Limited and Far East Investment and Export Agency to cooperate in coking coal mining projects implementation in the Russian Far East.
Responding to a question, Gokhale said India's decision diversify and expand energy ties with Russia had nothing to do with the issues faced by the country on sourcing oil and Liquefied Natural Gas (LNG) from Iran, another major player, now hit by US sanctions.
He noted that Iran has been a reliable and major supplier of energy to India. However, India was scouting for more sources because of its growing energy requirements.
Gokhale described the signing of agreements with Russia to ensure India's energy security as "major breakthroughs" during Prime Minister Narendra Modi's talks with Russian President Vladimir Putin here in the Far Eastern port city.
He forecast that energy cooperation is going to be an "emerging pillar" in the India-Russia relationship, which hitherto remained focused mainly on defence and civil nuclear cooperation.
He said India, which is in the process of diversifying its sources of energy, finds Russia as an attractive source.
A joint statement issued after the 20th India-Russia annual summit between Prime Minister Modi and President Putin said the two sides agreed to explore joint development of oil and gas fields in Russia and India including offshore ones.
"With the signing of the roadmap for cooperation in Hydrocarbons for 201924 during the Summit, both Sides expect bilateral cooperation in this sector to touch new heights in the next five years," it said without giving details.
The two sides agreed on a five-year road map, which will encompass two-day investments, the Foreign Secretary said.
He also said India was eyeing at investing in a new energy blocks in Russia's Eastern region.
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