Gazprom and Engineers India explore pipeline routes

Gazprom and Engineers India have signed a Memorandum of Understanding to explore gas routes between Russia and India.

Gazprom Chairman Alexey Miller and Engineers India Chairman and Managing Director Sanjay Gupta signed the agreement at the recent Brazil, Russia, India, and China (BRIC) summit in Benaulim, India.

Both parties will explore the possibility of constructing pipelines from Russia to India, and other countries; a working group will also be established.

Dr Miller said “At present, India ranks fourth in energy consumption worldwide, with the annual consumption growth averaging 6.33 per cent.

“As of last year, India consumed 56.5 billion cubic meters of gas, which was merely 7.14 per cent of its energy mix.

“India’s indigenous gas production is steadily declining. The share of gas imports in the country’s energy mix is rapidly growing.

“According to experts, India’s need for gas imports will increase threefold as early as 2022 and more than sixfold by 2030.

“I am convinced that Gazprom and Indian companies have significant prospects for mutually beneficial cooperation in the gas industry.”

The summit was attended by Russian President Vladamir Putin and Indian Prime Minister Narendra Modi, as well as Chinese President Xi Jinping.

It is the eighth time the international relations conference has been held.

For more information visit the Gazprom website.

If you have company news you would like covered in Pipelines International contact Assistant Editor Nick Lovering at nlovering@gs-press.com.au

Show more

Related articles

Back to top button
Close