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Three regions of the Far Eastern Federal District are interested in Indian investments in gas projects
Three regions of the Far East have announced their interest in Indian investments in the development of their gas projects. Sakhalin, Yakutia and the Amur Region presented their potential in this area.
Representatives of the regions spoke about this in the framework of a special practical session dedicated to the prospects for the development of Russian-Indian cooperation in the field of petroleum chemistry, which took place today, March 1. The event was organized by the Embassy of India in the Russian Federation, ANO API and KRDV with the support of the Ministry for the Development of the Russian Far East.
Tarun Kapoor, Deputy Minister of Oil and Natural Gas of the Republic of India, noted that many Indian companies are ready to cooperate with Russian state and private enterprises. The Far East has a special place in this matter. The Indian government is interested in mutual investment, especially in the energy sector.
It was noted that India consumes eight times more gas than it produces. The meeting participants noted that the Far East is a promising region for the implementation of projects for the production of liquefied natural gas. Today India is the fourth largest importer of LNG in the world. India is projected to quadruple this figure by 2040. The Indian side noted that they see the prospect of cooperation in the gas sector with Sakhalin, Yakutia, as well as with Kamchatka, Khabarovsk Territory and Amur Region.
According to Eduard Cherkin, General Director of the KRDV, India is one of the key partners in the Far East and the Arctic. Energy has traditionally been a key area of cooperation between the two countries, including the supply of hydrocarbons from the Far East to India, geological exploration, production and processing of oil and other energy resources.
Anastasia Nabatchikova, Managing Director for Projects in the Field of Petrochemical and Gas Chemistry of ANO API, noted that of the four main mineral resource centers formed in the country, two are located in the Far Eastern Federal District - in Yakutia and the Sakhalin Region. In the Kamchatka Territory, it is planned to implement projects for the construction of LNG terminals. A gas processing plant is under construction in the Amur Region. Another project in the energy sector is related to the formation of a hydrogen cluster on Sakhalin. According to Anastasia Nabatchikova, the transition to "green energy" will contribute to the development of the LNG market until at least 2040.
As Ambassador Extraordinary and Plenipotentiary of the Republic of India to Russia Bala Venkatesh Varma recalled, a new round in the development of Russian-Indian relations was given by the Eastern Economic Forum held in 2019 and the visit of Indian Prime Minister Narendra Modi to Vladivostok. In particular, an agreement was signed on the development of a sea route between the ports of Vladivostok and Chennai.
In 2019, Indian Prime Minister Narendra Modi announced Provision of credit one billion dollars for the Far East. The money will be directed to the development of the territories. The country provides funding because it regards the Far East as a launching pad for further investments.