RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2019-09-04 18:05:00

INDIA, RUSSIA TRADE: $30 BLN

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.

 -----

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:

INDIA, RUSSIA TRADE: $30 BLN
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.
INDIA, RUSSIA TRADE: $30 BLN
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.
INDIA, RUSSIA TRADE: $30 BLN
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.
INDIA, RUSSIA TRADE: $30 BLN
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.
All Publications »
Tags: RUSSIA, INDIA,
Chronicle:
INDIA, RUSSIA TRADE: $30 BLN
2023, February, 3, 11:29:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
INDIA, RUSSIA TRADE: $30 BLN
2023, February, 3, 11:28:00
TRANSPORTATION OIL AND GAS CONGRESS 2023 (TOGC 2023)
Transportation Oil and Gas Congress 2023 (TOGC 2023) takes place on February 20-21, 2023. The Congress brings together representatives from the whole pipeline chain and focuses on both strategic and technical issues of the oil and gas pipeline transportation.
INDIA, RUSSIA TRADE: $30 BLN
2023, February, 3, 11:25:00
ЦЕНА URALS: $49.48
Средняя цена на нефть марки Urals в январе 2023 года сложилась в размере $49,48 за баррель, что в 1,7 раз ниже, чем в январе 2022 года ($85,64 за баррель).
INDIA, RUSSIA TRADE: $30 BLN
2023, February, 3, 11:20:00
RUSSIAN GAS TO EUROPE DOWN AGAIN
Total Russian pipeline exports to Europe in January via the two remaining major supply routes were 36% down on deliveries in December and 79% lower year on year.
INDIA, RUSSIA TRADE: $30 BLN
2023, February, 3, 11:15:00
BP: THE TRANSITION TO A LOW-CARBON WORLD
The transition to a low-carbon world requires a range of other energy sources and technologies, including low-carbon hydrogen, modern bioenergy, and carbon capture, use and storage.
INDIA, RUSSIA TRADE: $30 BLN
2023, February, 3, 11:10:00
GERMAN WIND ENERGY 7 GW
Germany targets 30 GW of offshore wind by 2030. The country had 7.7 GW of offshore wind installed capacity at the end of 2021.
INDIA, RUSSIA TRADE: $30 BLN
2023, February, 3, 11:05:00
INDIA GREEN TRANSITION $8 BLN
India plans to spend US$4.3bn on energy transition through the Ministry of Petroleum and Gas, including programs for green fuel, green energy, green farming, green mobility, green buildings, and green equipment and policies for efficient use of energy across various economic sectors.
All Publications »