India seeks to diversify its oil and gas supplies with hydrocarbon cooperation

PM Narendra Modi will embark on a 36-hour-long visit to Vladivostok on September 4 to take part in the Eastern Economic Forum. During a special briefing, Foreign Secretary Vijay Gokhale confirmed that a five-year road map will be laid out on hydrocarbon cooperation.

New Delhi: With a focus on enhancing relations with Russia in the energy sector, PM Narendra Modi will embark on a 36-hour-long visit to Vladivostok on September 4 to take part in the Eastern Economic Forum.

During a special briefing, Foreign Secretary Vijay Gokhale confirmed that a five-year road map will be laid out on hydrocarbon cooperation. This will be done as India seeks to diversify its oil and gas supplies beyond complete dependency on the gulf.He said, "Intent to develop energy ties with Russia will be followed by actual action. The objective is to diversify energy relationship and rather being dependent on any one country."Foreign Secretary also claimed that PM Modi will be taking part in several bilateral and multi-lateral engagements during his visit to Vladivostok.

A nearly 50-member business delegation will be accompanying the Prime Minister during his visit.

Gokhale also confirmed that as many as 15 to 16 MoUs are likely to be signed by the private sector. Apart from it, several other MoUs will also be signed between both governments.

Several important sectors like oil and natural gas, and space will be taken up during discussions. Not only this, discussions on SCO, RIC, BRICS and Afghanistan will also take place.