Arctic route for LNG-crude supply
Import of Russian Liquefied Natural Gas (LNG) at competitive rates will help India become a gas-based economy for which the Government is invest over US$60 billion in supply and distribution network.
“LNG imports from Russia at competitive rates will help us in meeting the objectives of price stability and energy security. India is investing over $60 billion in developing natural gas supply and distribution infrastructure,” said Petroleum and Natural Gas Minister Dharmendra Pradhan on making of gas-based economy.
“We are keen to explore the new sea route to source crude oil and LNG through Russia’s Arctic. The route has the potential to cut the cost and time for transporting LNG from Russia to India,” he said of India diversifying sources of crude oil supplies.
“A sea line between Far-East Russia and the East coast of India will also facilitate sourcing of coking coal from the region.”
There is an ‘Energy Bridge’ between our two countries. With Russia being one of the largest producers of oil and natural gas and India being the world’s third largest energy consumer, Russia has the potential to become an important source to fulfill India’s oil and gas requirements, he stressed to a delegation from Russian media in New Delhi on 14 Jan 2020. fiinews.com
