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| Russia to participate in India-Pakistan-Iran gas pipeline : Deora | | |
Moscow, Oct 31 Minister for Petroleum and Natural Gas Murli Deora has welcomed the Russian proposal to participate in the India-Pakistan-Iran (IPI) gas pipeline.
After his talks with Russian Energy and Industry Minister Viktor Khristenko, Mr Deora said, India has welcomed the Russian proposal to participate in the 2,700 km long project, in the form of technological, financial and investment assistance.
''From India, I welcomed the proposal by Khristenko during the talks. It is a very important that we from India welcome the participation by Russian companies in the India-Pakistan-Iran gas pipeline, Mr Deora said, stressing ''We will take up this issue with Iran and Pakistan.'' Mr Deora is on a two-day visit to participate in the ''Moscow Energy Week,'' an international gathering for representatives of oil industry.
He also invited Mr Khristenko to attend the ceremony to be held in the first week of December at Mangalore to receive the first shipment of crude oil from Sakhalin-1 project by Prime Minister Manmohan Singh.
The first shipment of about 90,000 tons crude oil by the ONGC's overseas arm, the OVL, from Sakalin-1 project would be processed at ONGC's subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL).
Mr Deora said during the talks with Mr Khristenko, the sides exchanged views on the issue of increased cooperation between Indian and Russian oil companies.
''The issue of obtaining participating interest in upstream projects of Russia came up for discussion,'' he said adding the OVL would make large investments in the E&P projects likely to come up in Sakhalin region.
Noting enhanced cooperation between Russian and Indian companies, in the mutual interest, Mr Khristenko agreed to consider the OVL’s offer for cooperation with Rosneft and Gazprom.
''The commercial discussion would pave the way for better cooperation between the two sides,'' he said.
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