India, Russia to explore oil and gas; aim for USD 30 billion trade

Russian President Vladimir Putin and Prime Minister Narendra Modi envisage broader collaboration between hydrocarbon companies in oil and gas exploration and production as well as in LNG projects and supplies.

"It is expected that Indian companies will strongly participate in projects related to new oil and gas fields in the territory of the Russian Federation. The sides will study the possibilities of building a hydrocarbon pipeline system, connecting the Russian Federation with India.

"They will also examine avenues for participation in petrochemical projects in each other's country and in third countries," a joint statement said.

The leaders have encouraged Indian and Russian companies to pursue greater participation in each other's power generation projects, as also in supply of equipment, technology for enhanced oil recoveries and extraction of coal, including coking coal.

Source: Hindi News and Newspaper

Russia, India sign seven inter-governmental agreements

Envisaging close consultation between the two External Affairs Ministries on as many as 17 issues, ranging from Asia-Pacific to West Asia to West Europe to Latin America as also at various multilateral forum like UN, G20, BRICS, SCO, RIC, the two nations signed, 'Protocol for consultations between the Ministry of External Affairs and Ministry of Foreign Affairs of Russia for the period 2015-2016'.

Moving on Laying down provisions and procedures for training courses in military educational and training establishments; which will facilitate better understanding between the two defence forces , 'Agreement for Training of Indian Armed Forces Personnel in the Military Educational Establishments of the Defence Ministry of the Russian Federation,' was undertaken by the two nations.

Source: Hindi News and Newspaper

Russia to remain India's top defence partner: Modi to Putin

Modi spoke after a one-day summit that sought to revive a relationship that peaked in the Soviet era, while the two sides signed billions of dollars in deals covering nuclear power, oil and defence cooperation.
             
In the most significant ones, state-owned Rosatom will build 12 nuclear reactors in India, energy major Rosneft  inked a 10-year crude supply deal with Essar Oil and Russia promised to build advanced helicopters in India.
             
"Even if India's options have increased, Russia remains our most important defence partner," Modi told reporters after the first formal summit between the leaders since Modi won election by a landslide in May.
             
Putin's visit comes as the Kremlin grapples with a sliding oil price and weak economy that have deepened the impact of Western sanctions over its annexation of Crimea last spring and support for an uprising in eastern Ukraine.
             
The tension over Ukraine intruded on the choreographed visit when it emerged that the Russian-backed leader of Crimea had travelled as part of Putin's delegation for what were billed as unofficial talks to enhance trade.

Source: Hindi News and Newspaper