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Oil minister Pradhan invites Russian companies to invest in Indian gas infrastructure

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Oil minister Pradhan invites Russian companies to invest in Indian gas infrastructure

New Delhi: India’s oil minister Dharmendra Pradhan held a telephonic interaction with his Russian counterpart Alexander Novak Wednesday evening where he invited Russian oil and gas companies to invest in building natural gas infrastructure in India and in the expansion of city gas distribution networks. “The ministers reviewed the investments in hydrocarbon sector recognizing that India and Russia are one of the largest investors in each other’s hydrocarbon sectors. Minister Pradhan conveyed India’s interest to further enhance footprints in the Russian E&P sector,” the oil ministry said in a statement. During the interaction, Pradhan conveyed his concern on the growing crude oil price volatility during the last few weeks, and also urged Russia to continue to play a balancing role in its engagement with OPEC countries by taking into account the interests of consuming countries. Pradhan and Novak deliberated upon the way ahead to further strengthen IndiaRussia energy co-operation and in making hydrocarbon sector an important pillar of IndiaRussia Special and Privileged Strategic Partnership. The Ministers also agreed to work closely in the coming months to develop a more comprehensive hydrocarbon engagement.