Indian Petroleum Minister meets Premier Russian Investment Agency

30/08/2019


 
On 29 August, 2019, India’s Minister for Petroleum & Natural Gas and Steel Mr. Dharmendra Pradhan interacted a group of the top Russian oil, gas, coal and steel companies during a special session organized with the support of Russia’s Far East Investment and Export Agency. Minister Pradhan was accompanied by a 25-member business delegation comprising of CEOs of Indian oil & gas, steel and engineering consulting companies. The timing of the visit by the senior cabinet minister accompanied by a delegation of India’s leading energy and steel companies- a week before the much-anticipated visit of Indian Prime Minister Narendra Modi to Vladivostok – was a powerful signal of India's abiding interest in energy and mineral sector collaboration with Russia.

This high-level interaction was attended by up to 30 representatives from Russian side.  Presentations were given to the Indian delegation about specific opportunities for Indian companies in the oil, gas and coking coal and steel sectors–in both greenfield and brownfield investments. In addition, Russian companies currently active in Russia, particularly in the Russian Far East region, shared their views on projects that can be of immediate interest to Indian companies present during the interaction.  

As a result of this intensive discussion, companies on both sides held separate B2B follow-up meetings to concretize the ideas discussed in the expanded session. The CEO of the Far East Agency, Mr. Leonid Petukhov welcomed the initiative of Minister Pradhan in bringing this important delegation that would contribute to meeting national priorities on both sides. He assured the participating Indian companies of all support in strengthening contacts on both sides and in making sure that all proposals discussed are supported at the highest level in Russia. Mr. Pradhan, the Indian Minister, thanked the Agency for its continued support to India’s interest in investments in Russia’s energy sector and urged participants on both sides to come up with tangible outcomes as a result of their interactions during this visit, to further bolster the strong energy pillar of India-Russia partnership. Mr. Petukhov concluded the session by thanking Minister Pradhan for his support in making this session a success.

This Session followed a series of high level meetings of Minister Pradhan including with Deputy Prime Minister Yuri Trutnev, Minister of Energy, Alexander Novak, Deputy Minister of Industry and Trade, incharge of steel sector Mr. Victor Evtukhov.
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