MOSCOW, June 24 (RIA Novosti) – Indian authorities are ready to start negotiations with Moscow on the extension of Russia’s planned pipeline to China, Indian online newspaper Financial Express reported Tuesday.
According to the publication, Indian Minister of Oil and Gas Dharmendra Pradhan discussed the prospect of extending the gas pipeline with his Russian counterpart Alexander Novak during the World Petroleum Congress held in Moscow last week.
The newspaper suggests that the government of India’s new Prime Minister Narendra Modi is aimed at increasing the number of oil and gas sources to meet the country’s growing demand for energy. In this regard, the Indian delegation at the next BRIC summit, scheduled for July, intends to raise the issue of the proposed extension as part of the agenda.
Russia's Gazprom and China National Petroleum Corporation (CNPC) signed a 30-year contract in late May for the sale of Russian gas to China at a volume of 38 billion cubic meters per year with delivery along the eastern route. The Russian energy giant plans to launch the construction of the Power of Siberia pipeline in August.