India named first official partner country at Russian Energy Week

India will be the first official partner country of the Russian Energy Week international forum, the Russian government said in a statement on Thursday, as Moscow seeks to attract greater Indian investment in its energy assets.

The Federation of Indian Petroleum Industry, which represents the Ministry of Petroleum and Natural Gas, will be present at the forum to showcase current and future projects being undertaken by the two countries, according to people familiar with the matter.

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The Russian Energy Week international forum is scheduled for October 14-16 in Moscow.

“Russia is interested in attracting Indian investment to the Russian oil and gas sector, as well as in developing a distribution network with the participation of Russian companies in India,” the Russian government statement said, quoting Deputy Prime Minister Alexander Novak. “Relations between the two countries have the nature of a strategic partnership, and their leaders are in constant contact. Mutually beneficial cooperation in oil and gas projects is being actively promoted.”

Russian Energy Week is a key international platform for discussing issues related to the development of the fuel and energy complex, interregional cooperation and international energy relations.

Over the past two decades, India has made significant investments in Russian energy assets. ONGC Videsh Ltd (OVL) has invested $1.6 billion for a 20% stake in the Sakhalin-1 oil and gas project. Indian public sector companies, including Oil India and OVL, invested $1 billion for stakes in Rosneft’s Vankor cluster projects. OVL holds a 100% stake in London-listed, Siberia-focused Imperial Energy Corporation.

Russia’s Rosneft owns a 49% stake in India’s Nayara Energy, which operates the Vadinar refinery and exports processed fuels, including to Russia.

Since 2022, India has been a major importer of Russian crude. India imported a record 2.8 million barrels per day of Russian crude oil in July 2026, accounting for roughly 55.5% of the country’s total crude imports.

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India and Russia have been in talks to expand energy cooperation through gas supplies and joint ventures, including the development of hydrocarbon fields in India, ET reported in May. The two sides are exploring opportunities to supply gas to Indian cities, expand CNG filling stations and develop new oil, gas and petrochemical facilities, Roman Babushkin, Russia’s deputy chief of mission in India, said at an event in May.

ET also reported that India is in talks with Russia to purchase LPG. There have also been reports that India is looking to explore new hydrocarbon assets in eastern Russia.

In civilian nuclear energy, Russian nuclear major Rosatom is the only foreign partner so far to have constructed a nuclear power plant in Kudankulam.