1st LNG Cargo under Long Term Contract with Russia Arrives at Dahej
by Shrutee K/DNS
The first LNG Cargo under the long term contract
between GAIL and Gazprom Marketing & Trading Singapore (GMTS) of Russia
arrived today at the LNG terminal of Petronet LNG Ltd (PLL) in Dahej, Gujarat.
The LNG vessel “LNG Kano” carried 3.4 TBTU of
LNG. The LNG cargo was received by Shri Dharmendra Pradhan,
Minister for Petroleum & Natural Gas and Skill Development &
Entrepreneurship at an event here in Dahej. Russian Trade Commissioner in New
Delhi and other senior officials of Gazprom were present in the event.
Speaking
on the occasion, Shri Pradhan said that the starting of
LNG imports from Russia has added a new dimension to the Indo-Russian bilateral
relations, particularly in the oil & gas sector. He added that Prime Minister
Modi and President Putin have placed special emphasis on energy cooperation
between the two countries, which has taken shape of an Energy Bridge between the
two countries. Today’s
arrival of first LNG cargo from Russia is an example of this growing strategic
partnership.
Russia has emerged as a long-term
source for India’s hydrocarbon imports. Minister
Pradhan added that LNG imports from Russia will go a long way in
mitigating the risks arising out of geo-political uncertainties. He mentioned that government is committed
towards transforming India into a gas-based economy. To realize this
aspiration, investments are being made for augmenting natural gas infrastructure,
including pipelines, LNG import terminals and City Gas Distribution networks.
GAIL became the first Indian public-sector
company from India to source LNG from Russian side on a long term. It has
contracted to import 2.5 MMTPA of LNG from Gazprom Marketing and Trading
Singapore’s (GMTS) on a long term basis. In the
last few years, Indian companies have made investment of more than US
$ 10 billion in acquiring varying stakes in strategic Russian projects
Sakhalin-1, Vankorneft and Taas-Yuryakh.
On the other hand, Russian company led consortium has committed an investment
of US $ 13 billion in Essar Oil in 2016.
Russia is
currently, world’s largest crude oil & second largest gas producer in the
world. While, India is world’s 3rd largest energy consumer & 4th
largest import of LNG. Russia has potential to be a
significant supplier for Indian hydrocarbon demand in the coming years.
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