Russia, India to study possibility of shipping oil

Russia, India to study possibility of shipping oil

Agency News

Vladivostok, Sep 4 : India and Russia will study the possibility of shipping oil via the Northern Sea Route and pipeline, said a joint statement adopted on Wednesday after the Russian-Indian summit.

"The sides intend to develop cooperation in the field of geological prospecting and joint development of oil and gas fields in Russia and India, including shelf projects, to continue perfecting the delivery of energy resources from Russia to India, including based on a long-term agreement to import Russian crude, possibly using the Northern Sea Route and a pipeline system," the statement reads.

The statement stressed that energy was the key field of Russian-Indian cooperation, Sputnik said in a report.

"One of the fundamental components of the strategic partnership in this sector is the cooperation on peaceful nuclear energy. Building of the remaining four out of six energy units of the Kudankulam Nuclear Power Plant is progressing successfully," the statement said.

"The sides are discussing the second spot, welcomed the ongoing technical consultations on VVER-1200 reactor designed in Russia and joint production of equipment and fuel," the statement said. (UNI)