New Delhi: The Central Government on Thursday said that discussions are underway as the US administration has shown interest in deepening energy cooperation between the two nations.

In a statement, the Ministry of External Affairs (MEA) said that, where the US is concerned, "we have for many years sought to expand our energy procurement".

"This has steadily progressed in the last decade. The current Administration has shown interest in deepening energy cooperation with India. Discussions are ongoing," the MEA added.

This comes after US President Donald Trump said that he has been "assured" that India won't be buying oil from Russia, while adding that he understands that it can't be done "immediately".

In the statement, the MEA said that India, being a significant importer of oil and gas, prioritised "the interests of the Indian consumer in a volatile energy scenario". "Our import policies are guided entirely by this objective," it added. It further stated that ensuring stability in energy prices and securing supplies are the twin goals of its energy policy.

"This includes broad-basing our energy sourcing and diversifying as appropriate to meet market conditions," the MEA said.

The Commerce Ministry has noted India's ability to import more crude oil and natural gas worth $12-$13 billion from the US without changing the configuration of the refineries. The government has also emphasised its keenness to diversify the country's energy import portfolio, provided the energy is available at the right price.

India's Chief Negotiator Rajesh Agrawal left for the US on Wednesday. The negotiating team is already in the US, and discussions are underway on bilateral commitments.

As part of the trade package, India is also likely to source more renewable energy technologies from the US, in a move that would assist the country in fighting climate change.

(With IANS inputs)

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