New Delhi has been involved in the development of oil and gas fields in the region, the Russian Foreign Ministry has said
India is considering the purchase of liquefied natural gas (LNG) from the Arctic region as part of its strategy to diversify its energy sources.
It is part of the push to deepen energy and logistics cooperation between the two countries, Russian Deputy Foreign Minister Andrei Rudenko said.
New Delhi’s interest in Russian LNG is significant, as India has asserted its right to energy security despite the looming threat of US sanctions. The US has sanctioned Russia’s Arctic LNG 2 project, and Washington tightened curbs on Russian LNG exports earlier this year, citing the Ukraine conflict.
At the same time, in May, the US emerged as the top supplier of LNG and liquefied petroleum gas to India.
Energy cooperation has been a pillar of relations between New Delhi and Moscow for a long time, and Indian companies are involved in several major Russian oil and gas projects.
“For decades, the joint development of oil and gas fields has been the main area of cooperation with India.” Rudenko said in an interview with the Russian Arctic and Far East Development portal, as reported by TASS.
“The Indian side is actively involved in the work of Vankorneft and Taas-Yuryakh Neftegazodobycha, the Sakhalin-1 project,” he said.
The countries initiated a program for bilateral cooperation in trade, economic, and investment in the Russian Far East in 2024. The program, intended to continue until 2029, envisages cooperation in the Arctic zone, he said.
Logistics cooperation is another key area of bilateral partnership, and both countries are exploring options for increasing shipping along the Vladivostok-Chennai maritime route, he said.
Russia and India are also studying the possibility of joint development of the Northern Sea Route (NSR), and a memorandum on training specialists to work on ships operating in polar waters was signed in December last year.
“Next in line is the conclusion of a memorandum on developing cooperation in maritime freight transport in the NSR,” he said.
The US Senate on Tuesday advanced a new sanctions bill that would, among other things, impose harsh tariffs on the top buyers of Russian oil and gas, which include India and China.
Last month, Russian President Vladimir Putin said US attempts to exert pressure on India over its ties with Moscow would be “futile.”
