USD 89.7026


EUR 97.0954


Brent 82.86


Natural gas 2.804



S&P Global Platts: Russia and India ready to expand bilateral energy cooperation

Joint investments in energy currently at $32 billion

S&P Global Platts: Russia and India ready to expand bilateral energy cooperation

Source: Russian Ministry of Energy

Vladivostok, September 3 - Neftegaz.RU. Russian and Indian companies have been pushing for greater cooperation in the oil & gas sector beyond the $32 billion invested in joint projects, the countries' energy ministers said on September 2.

Speaking at the Eastern Economic Forum in Vladivostok, Russian energy minister Nikolay Shulginov said almost all major companies - including Rosneft, Gazprom Neft, and Novatek - were interested in developing new projects with Indian oil and gas companies.
Shulginov said at the Russian-Indian business dialog:
  • We see prospects for energy cooperation in all areas
According to the Indian oil minister Hardeep Singh Puri, Indian oil companies have already invested about $16 billion in the Russian oil & gas sector, and Russia invested the same amount in India.
Puri said:
  • But the sentiment is that we want to deepen, broaden and solidify the relationship
The Indian minister also met with Rosneft CEO Igor Sechin to discuss ongoing joint projects, such as Sakhalin 1, Taas Yuryakh and Vankor, as well as further cooperation in the area of oil and gas production, refining, petrochemicals, and sales of hydrocarbons.
Sechin said at the meeting:
  • Mutual investments into projects with the engagement of Rosneft and the Indian partners exceed $17 billion
  • This accounts for more than half of cumulative Russia-Indian investments to date
Sechin also made a presentation of Russia 's Vostok Oil megaproject, which links some of Rosneft 's vast resources with the Northern Sea Route, a development priority for Russia that ships to both European and Asian markets.

Rosneft said previously that Indian partners were interested in joining the cluster, which contains combined estimated resources of over 6 billion mt, or around 44 billion barrels, of premium crude . Crude at the project has a low sulfur content ranging from 0.01%-0.04%.

Oil production at the cluster may reach 115 million mt, or around 2.3 million b/d, by 2033, Rosneft said

Follow us on Facebook
Advertising at

Subscribe to our newsletter

of the best materials Neftegaz.RU

* Incorrect E-Mail Address

By clicking the "Subscribe" button I accept the "Agreement on the processing of personal data"

Advertising at