INTERVIEW: India interested in joint development of Arctic fields
NEW DELHI, Feb 7 (PRIME) -- India is interested in joint development of RussiaТs Arctic fields, including the Vankor cluster, Yaroslav Tarasyuk, RussiaТs trade representative in New Delhi, said in an interview with PRIME on Wednesday.
УThe Indian side continues dialogue with Rosneft and Gazprom Neft on the issue,Ф he said.
ONGC bought 26% and a consortium of Oil India, Indian Oil Corporation and Bharat Petroresources acquired 23.9% in Vankorneft, the Vankor field operator in 2016. Rosneft kept its controlling 50.1% stake.
In October 2016, a consortium of five Indian companies was said to start talks with Rosneft on participation in three more deposits of the Vankor cluster.
Tarasyuk said that Russia and India are ready to help Iran develop infrastructure necessary for the North-South transport corridor because complicated logistics with over 80% of cargoes shipped via the port of St. Petersburg limit further development of Russian-Indian economic ties.
He added that the corridor actually functions, but needs a direct railroad through Iran without which car transportation has to be used. The railroad may allow trade turnover between Russian and India to rise to U.S. $10 billion in 2018 and $30 billion until 2025.
Tarasyuk said that India is interested in expansion of Russian presence on its market, but prefers to negotiate benefits for foreign businesses individually.
УThe government knows well that Russia has a lot of innovative technologies, which may be used in India, including aviation, shipbuilding, metallurgic, chemical and Уsmart citiesФ technologies... A special working group on priority investment projects has been created by a Russian-Indian intergovernmental commission.Ф
He also said that construction of nuclear power plants designed by Russian companies is top priority for the Indian government and that there is an agreement on a large number of nuclear power units to be constructed with Russian presence.
УIndia is developing dynamically and plans to become an international industrial hub this is why affordable power is top priority.Ф
The trade representative said that in 2018 India plans to start negotiations on a free trade zone with the Eurasian Economic Union (EAEU), comprising Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan.