2019-09-04 18:05:00
INDIA, RUSSIA TRADE: $30 BLN
REUTERS - India and Russia are targeting $30 billion of annual trade by 2025, India's foreign secretary said on Wednesday as a string of energy deals deepened economic ties between the nations.
Seeking to boost bilateral trade from its current $11 billion, the two countries announced deals in sectors including energy, defense and shipping after a meeting between Russian President Vladimir Putin and Indian Prime Minister Narendra Modi at an economic forum in Vladivostok.
India, the world's third-biggest oil consumer and importer, aims to raise the proportion of gas in its energy mix to 15% in the next few years and diversify its energy supply to hedge against geopolitical risk.
"We have had a major breakthrough in the energy sector. This is a sector where we are looking to diversify our sources of supplies and we are increasingly finding it attractive to buy oil and gas from the Russian federation," India's foreign secretary, Vijay Gokhale, told a news conference.
Modi, who wants to cut India's oil imports by 10 percent by 2022, is steering efforts to buy foreign energy assets, taking advantage of low global oil prices and a slowdown in China's overseas acquisitions.
"We are looking at investing in additional oilfields in Russia ... we are also looking at sourcing LNG," Gokhale said.
Indian companies have stakes in Russian hydrocarbon assets including the Sakhalin-1, Imperial Energy, Vankor and Tass-Yuriakh fields, but it rarely imports oil from there because of logistical constraints and higher freight costs.
Gokhale said Putin wants safe, secure and cost-effective supply channels for India.
Among the deals announced on Wednesday, India's top gas importer Petronet LNG agreed to buy liquefied natural gas (LNG) from Novatek and invest in the Russian company's future projects. The two companies will also look at joint marketing of the gas as a motor fuel in India.
Indian coal producer Coal India , meanwhile, signed a deal to mine coking coal in Russia's Far East, while private company H-Energy is looking at buying LNG from Novatek on a long-term basis.
Besides investing in each other's future LNG projects, Novatek and H-Energy plan to set up a joint venture to market Russain LNG in India, Bangladesh and other markets.
Indian gas company GAIL (India) , which has a 20-year contract to buy LNG from Gazprom , is looking to acquire a minority stake in the Arctic LNG-2 project led by Novatek, Vedomosti business daily reported on Wednesday, citing India's oil minister.
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Among the deals announced on Wednesday, India’s top gas importer Petronet LNG (PLNG.NS) agreed to buy liquefied natural gas (LNG) from Novatek (NVTK.MM) and invest in the Russian company’s future projects. The two companies will also look at joint marketing of the gas as a motor fuel in India.
Indian coal producer Coal India (COAL.NS), meanwhile, signed a deal to mine coking coal in Russia’s Far East, while private company H-Energy is looking at buying LNG from Novatek on a long-term basis.
Besides investing in each other’s future LNG projects, Novatek and H-Energy plan to set up a joint venture to market Russain LNG in India, Bangladesh and other markets.
Earlier:
2019, August, 30, 11:00:00
ЭНЕРГЕТИЧЕСКОЕ ВЗАИМОДЕЙСТВИЕ РОССИИ, ИНДИИ
Александр Новак отметил, что энергетическое взаимодействие с Индией отличается самодостаточностью и отвечает интересам обеих стран. При этом важную роль в двустороннем развитии отношений играет деятельность Рабочей группы по сотрудничеству в области энергетики и энергоэффективности в рамках Российско-Индийской межправкомиссии, 22-е заседание которой прошло в апреле этого года.
2019, August, 30, 10:50:00
СТРАТЕГИЯ РОССИИ, ИНДИИ
Министр сообщил, что на сегодняшний день в проект Стратегии включены шесть направлений: совершенствование торгово-инвестиционного режима и договорно-правовой базы, реализация потенциала в финансовой сфере, развитие транспортно-логистической инфраструктуры, диверсификация энергетического сотрудничества, сотрудничество в агропромышленной сфере, наука и инновации.
2019, August, 13, 13:45:00
СОТРУДНИЧЕСТВО ИНДИИ И РОССИИ
«Учитывая растущий спрос на природный газ на индийском рынке и перспективы развития новых СПГ-проектов, взаимодействие между Группой «Газпром» и индийскими партнерами в области торговли СПГ приобретает стратегический характер. Компания «НОВАТЭК» заинтересована в привлечении индийских партнеров к проекту Арктик СПГ-2, а также заключении контрактов на поставку СПГ с завода Арктик СПГ-2», - подчеркнул заместитель Министра.
2019, August, 13, 13:40:00
RUSSIA'S LNG FOR INDIA: $25.5 BLN
Russia’s Novatek is interested in supplying liquefied natural gas (LNG) from its Arctic LNG-2 project to Indian companies, Russian Deputy Energy Minister Anton Inyutsyn was quoted as saying by the ministry’s website on Monday.
Chronicle:
2021, July, 9, 12:04:00
HYDROGEN RUSSIA AND CIS, Moscow, 20-21 October 2021
International Conference and Exhibition ‘Hydrogen Russia and CIS’ brings together more than 200 senior executives of hydrogen production plants from Russia and the CIS
2021, July, 9, 12:00:00
ARGENTINA'S NUCLEAR SMR
Before work was suspended, it was in line to be the world’s first operating SMR. The government licensed it as a prototype in 2009.
2021, July, 9, 11:55:00
CHILE'S COAL GENERATION DOWN
In June 2021, the Chamber of Deputies of Chile has approved a bill that prohibits the installation and operation of coal-fired power plants.
2021, July, 8, 12:50:00
OIL PRICE: NEAR $73
Brent slipped by 23 cents, or 0.3%, to $73.20 a barrel, WTI were down 33 cents, or 0.5%, at $71.87 a barrel.
2021, July, 8, 12:45:00
OIL PRICES 2021-22: $72-$67
We expect rising production will reduce the persistent global oil inventory draws that have occurred for much of the past year and keep prices similar to current levels, averaging $72/b during the second half of 2021 (2H21).
2021, July, 8, 12:40:00
EUROPE CLIMATE RULES
According to draft proposals seen by market sources, the CBAM will replace the current system of free carbon allowances for metals sectors, and tighten allowances in the European Emissions Trading System generally, a bone of contention for some.
2021, July, 8, 12:35:00
ASIA INDEXES DOWN ANEW
The Hang Seng index (.HSI) led losses with a 1.9% drop, its eighth consecutive session in the red, with more falls in internet giants Tencent (0700.HK), Meituan (3690.HK) and Alibaba (9988.HK) as the sector reels from sweeping Chinese regulatory scrutinty.