India, Russia to work closer with IEA

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PARIS, Oct. 19 (UPI) -- India and Russia, on the sidelines of a high-level conference in Paris, signed deals to work closer with the IEA on energy matters, the agency said.

The International Energy Agency sponsored a meeting in Paris that focuses on energy security and sustainability, as well as closer engagement with non-member states.

India and the IEA agreed to work more closely on developing an oil stockholding regime and emergency response policies, the agency said.

Officials at the U.S. Energy Information Administration in September said economic growth in India was expected to account for a large portion of the projected increase in world energy use over the next 25 years. The Organization of the Petroleum Exporting Countries, in its October report, however, said it saw slower growth and subsequent lower demand from the region.

Russian officials and the IEA agreed to work more closely on energy efficiency matters and issues related to renewable energy, the agency said. Russia has some of the largest oil and natural gas deposits in the world.

Both countries are existing partner countries to the IEA, meaning they're not members but work closely with the agency.