Putin, Modi Reaffirm Commitment To More Russian Oil Output, LNG Import To India

Russian President Vladimir Putin and Indian Prime Minister Narendra Modi have reaffirmed their commitment to boosting Russian crude production under long-term contracts and increasing import of liquefied natural gas (LNG) to India, according to a joint statement issued following the Monday meeting in New Delhi

MOSCOW (UrduPoint News / Sputnik - 06th December, 2021) Russian President Vladimir Putin and Indian Prime Minister Narendra Modi have reaffirmed their commitment to boosting Russian crude production under long-term contracts and increasing import of liquefied natural gas (LNG) to India, according to a joint statement issued following the Monday meeting in New Delhi.

"The sides reaffirmed their commitment for increasing sourcing of Russian crude oil on long term contracts through preferential pricing, strengthening LNG imports to India, and the possible utilization of the Northern Sea Route for energy supplies," the statement read.

The two leaders have also agreed to expand cooperation on gas in a mutually beneficial manner that includes "the development of investment in gas infrastructure and distribution projects, use of natural gas in transport and emerging fuels including hydrogen."