The Evolving Landscape of LNG Trade: Opportunities and Challenges for Russia and India
India’s strategic shift towards liquefied natural gas (LNG) is reshaping its energy sector amidst global energy trade dynamics. GAIL (India) Ltd recently secured a 10-year LNG purchase deal with Vitol, including gas from Russia, to meet its energy goals by 2030.
Photo: commons.wikimedia.org by Hannes Grobe, CC BY 3.0
India’s varying LNG imports highlight its reliance on imported gas to meet energy demands. Agreements like Vitol and Novatek help secure energy stability amidst fluctuations. Russia’s LNG exports to Europe and China showcase its market resilience.
India’s use of ship-to-ship transfers in Oman to access Russian LNG and the future collaboration on Arctic LNG projects signal innovative procurement and strategic partnerships. Projects like Sakhalin-2 and Yamal LNG strengthen bilateral energy ties.
By navigating new LNG trade dynamics, Russia and India work towards enhanced energy security and economic growth. Their partnership in LNG projects sets the stage for a sustainable and mutually beneficial energy relationship.
Dr. Hriday Sarma is an Indian lawyer and independent researcher specializing in energy affairs across Greater Eurasia.