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Russia, India considering joint development of Arctic, Far Eastern hydrocarbon fields

The sides are mainly focused on energy cooperation, Yuri Ushakov said, adding that exports of Russian hydrocarbons to India are expanding, with the two countries’ mutual interest in the implementation of joint LNG projects persisting

MOSCOW, December 3. /TASS/. Russia and India are exploring the possibilities of the joint development of hydrocarbons on the Arctic shelf and Russia’s Far East, Kremlin Aide Yuri Ushakov told reporters on Friday.

The sides are mainly focused on energy cooperation, he said, adding that exports of Russian hydrocarbons to India are expanding, with the two countries’ mutual interest in the implementation of joint LNG projects persisting.

"The possibilities of joint development of hydrocarbons on the Arctic shelf and in Russia’s Far East are under consideration," Ushakov noted.

Trade turnover between the two countries "is recovering fairly fast after the pandemic first hit, growth continues," he said, noting that it soared by 38.1% in January-September 2021, reaching $8.8 bln. Cooperation is underway in various sectors, including nuclear energy and space, according to the Kremlin aide. During the upcoming visit of the Russian leader to India it is planned to consider the steps on boosting mutual trade flows of the two countries, he said. Moreover, the signing of a whole number of joint documents, including in the trade and investment areas, space and culture is expected during the visit.

Speaking about the issues that Russian President Vladimir Putin and Indian Prime Minister Narendra Modi may focus on during the talks on December 6, Ushakov said that the issues of strategic stability, the fight against terrorism, the situation in the Asian-Pacific Region and the Afghan issue are among the possible subjects. Overall, the parties plan to share views on relevant international issues during the talks, he added.

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