Deora to press for stake in Sakhalin-III project

India, which is on a lookout to diversify its petroleum sourcing as a wider energy security measure, is keen to seek a stake in Sakhalin-III project off Russia's Far East coast.

The Petroleum Minister, Mr Murli Deora, said India would ask Russia for a stake in its Sakhalin-III project during the visit of Russian President, Mr Vladimir Putin.

During his two-day visit starting Thursday, he is expected to hold wide-ranging discussions on defence and energy cooperation.

India imports 73 per cent of its oil and gas requirement. ``At the meeting on Thursday we are going to ask for some share in Sakhalin-III,'' Mr Deora told media persons at the sidelines of the function to inaugurate the IGL Bhawan here. The Minister, however, did not indicate the quantum of the stake he will bargain for.

``We are very keen on extending the Sakhalin-I partnership and hope Mr Putin will oblige us,'' he said.

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