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India interested in boosting oil, LNG supplies via Northern Sea Route

"The sides reaffirmed their commitment for increasing sourcing of Russian crude oil on long term contracts through preferential pricing, strengthening LNG imports to India, and the possible utilization of the Northern Sea Route for energy supplies," the statement said

MOSCOW, December 6. /TASS/. India is interested in boosting supplies of the Russian oil, liquified natural gas, as well as utilization of the Northern Sea Route for energy supplies, according to a joint statement released following the 21st Russia-India summit on Monday.

"The sides reaffirmed their commitment for increasing sourcing of Russian crude oil on long term contracts through preferential pricing, strengthening LNG imports to India, and the possible utilization of the Northern Sea Route for energy supplies," the statement said.

"The two sides further agreed for the expansion of cooperation in gas sector and welcomed the creation of a Gas Task Force to identify mutually beneficial areas including the development of investment in gas infrastructure and distribution projects, use of natural gas in transport and emerging fuels including hydrogen," according to the statement.

They also noted "the fruitful, wide-ranging collaboration between the oil and gas companies of the two countries, including between JSC Rosneft Oil Company and Oil and Gas Public Sector Undertakings of India in implementing the Vankorneft, Sakhalin-1 and Taas-Yuryakh Neftegazodobycha projects in Russia, and Nayara Energy Limited’s oil refinery in India," the statement said.