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HomeNewsPlans afoot to raise Russian energy sector investments

Plans afoot to raise Russian energy sector investments

India is planning to expand its energy sector footprint in Russia through additional joint hydrocarbon projects in the Far East and the Arctic Shelf to meet the rising domestic demand amid the geopolitical upheaval.

The critical issue of India’s interest to secure energy assets in Russia was the key item on the agenda when foreign minister S Jaishankar met his Russian counterpart Sergey Lavrov in Moscow on Tuesday.

The two ministers decided to expedite the process to grant Russia a second site in India for the nuclear power project. Russia-supported Kudankulam Nuclear Power Plant is contributing to availability of electricity in Tamil Nadu.

The shipping corridor between Vladivostok and Chennai and plans to connect the Northern Sea Route in Arctic to INSTC will help transport oil from Russia to India.

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