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International relations

Modi clinches deal with Putin for joint Arctic LNG development

Closer cooperation on hydro and renewable energy sought in India-Russia summit

Indian Prime Minister Narendra Modi, right, welcomes Russian President Vladimir Putin prior to their meeting at Hyderabad House in New Delhi on Oct. 5.   © Reuters

NEW DELHI -- Indian Prime Minister Narendra Modi on Friday announced an agreement with Russian President Vladimir Putin to jointly develop a liquefied natural gas project on the Arctic shelf, in a statement following a summit between the two leaders. 

The joint statement said, "The [two] sides acknowledged the interest of Russian and Indian companies in cooperation in the field of [liquefied natural gas] and welcomed the commencement of supply of LNG under the long-term contract between Gazprom Group and GAIL India Ltd."

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