Why in News?

• Joint statement on cooperation for 2019-24 with Russia, which was issued in Vladivostok, Russia after Prime Minister Shri. NarendraModi’s annual bilateral summit with Russian President Mr. Vladimir Putin.

Natural Gas Sector:

• Both sides recognize the significance of Liquefied Natural Gas (LNG) supplied from Russia to India and agree to strengthen LNG imports to India to promote India’s bid to transform itself into a gas-based economy.
• Russia will encourage its public and private sector companies to participate in gas projects in India, particularly in the development of gas pipeline networks and city gas distribution infrastructure in India.
• India’s private and public companies will explore the possibility of collaborating in LNG projects, including in the Arctic.In regards to cooperation in the Arctic, Indian companies will examine the possibility of development of closer cooperation with Russian companies, including the LNG Arctic projects of JSC NOVATEK.
• Both Sides welcome the interest of JSC NOVATEK to enhance LNG supplies to India and joint development of gas market in India including but not limited to LNG infrastructure projects in collaboration with Indian companies.

Training, Technology, Third Country Cooperation:

• Both Sides will strengthen and diversify existing training exchange program and create new ways of enhancing knowledge exchange, joint research in energy sector, including those in emerging technologies.
• Both Sides agree to explore possibility of undertaking joint projects in third countries in the energy sector.