Russia is India’s strategic partner in gas supplies
India is interested in purchasing Russian liquefied natural gas due to an energy deficit, India’s Ambassador to Moscow Vinay Kumar said.
The Indian side described Russia as a strategic partner with special privileges. Gas imports could help reduce the country’s energy shortfall, which is linked to the conflict in the Middle East and the closure of the Strait of Hormuz.
India’s economy is growing rapidly, and the country needs gas. At the same time, its own gas reserves are limited, so India is betting on liquefied natural gas with countries in the Middle East serving as the main exporters. Earlier, they accounted for 70% of India’s gas imports. Now, amid the conflict and the blockade of the strait, supplies have sharply declined.
In 2027, the European Union will stop importing Russian liquefied natural gas. Experts believe this volume of raw material could be redirected, including to the Indian market. It is noted that Russia does not yet supply gas to India on a regular basis, but there are prospects for this. For example, according to estimates, shipments from Yamal LNG could begin this year.