India to attend GFSEC ministerial meeting

Minister of Petroleum and Natural Gas and Steel Shri Dharmendra Pradhan is to visit Russia and Japan between October 22 and October 26 2019. This is a follow up visit of PM Modi for the Eastern Economic Forum in September 2019.

Highlights of the visit

  • The Minister will meet Russian Ministers for Development of Russian Far East and Arctic, ship building complexes.
  • The Minister is looking forward for collaboration in sectors like coking coal and discussions on shipping routes.
  • The Minister will also sign MoUs to strengthen symbolic bilateral energy cooperation.
  • He will participate in the Global Forum on Steel Excess Capacity Ministerial Meeting

GFSEC ministerial meeting

The GFSEC Ministerial meeting is to be held in Tokyo, Japan between October 25 and October 26 2019. The meeting will involve policy discussions.

The GFSEC meeting was formally established in December, 2016 in Berlin. The meeting brings together all the G20 members and the OECD members. The meeting represents 90% of global steel production.

India in Russia and Japan

ONGC has recently joined Sakhalin-1 consortium. It has so far acquired 20% participation in the project. It is the largest foreign direct investment by any country in any project in Russia. Sakhalin in a consortium for production of oil and gas on Sakhalin island in Russia in Okhotsk sea. It holds six of the world’s 10 record-setting extended reach drilling wells.

The Agreement between EIL and Russian National Chamber of Engineers strengthens bilateral energy cooperation in the hydrocarbon exploration in Russia

There are a lot of synergies between India and Japan. India is collaborating on a big scale with Japan in the LNG sector.

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