Vladimir Putin to India on October 2nd

Vol 4, PW 17 (27 Sep 00) News in Brief

India and Russia are close to finalising a deal on ONGC's entry into the 'Sakhalin-1' concession in Russia's far east.

On 12th September, Russian deputy prime minister Ilya Klebanov told the Hindu newspaper an accord signing is unlikely during the upcoming visit by Russian President Vladimir Putin on October 2nd as negotiations are still on with 'Sakhalin 1' consortium leader ExxonMobil. [More likely is that Putin will witness the signing of a production sharing contract between the Indian government and an alliance of Gazprom and the Gas Authority of India.

In July Gazprom initialled a PSC for the NEC-OSN-97/2 concession in an alliance with GAIL.Editor]