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India will receive Russian gas, and its companies will be allowed to work on the Russian Arctic shelf

Russian companies Rosneft and Gazprom, together with Indian companies, are preparing projects to develop the Russian Arctic shelf and expand LNG supplies, Russian President Vladimir Putin said.

Earlier, Putin noted that under the contract between Gazprom and GAIL, the first shipments of liquefied natural gas can begin to flow to India in 2017, the annual volume is 2,5 million tons. If the dates are shifted, then deliveries will begin no later than 2021.

In 2011, Russia's Gazprom Marketing & Trading Singapore signed four memorandums on the supply of liquefied natural gas to India. In addition to the Indian GAIL, memorandums were signed with Indian Oil Corporation Limited, Gujarat State Petroleum Company (GSPC) and Petronet LNG Limited (Petronet). It was planned that Gazprom would supply each of these Indian companies with 25 million tons of LNG per year for 2,5 years. In June it became known that Gazprom could increase the supply of LNG GAIL to 3,5 million tons per year.

In addition, the President noted that the issue of participation of the Indian OVL in the development of hydrocarbons in the Russian Arctic is being considered. In May, Rosneft signed a memorandum of understanding with this company on cooperation on the Arctic shelf of Russia within the framework of an international consortium, and Gazprom Neft is also showing interest in establishing cooperation with Indian oil and gas companies to implement Arctic projects.
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