India balances Russia and US ties with $25 billion gas deal. On Monday, India gan to receive a long-term gas offers from Gazprom of Russia. Gazprom is the environment’s top publicly-listed pure gas firm. The deal is of below $25 billion which indicates the development of the country’s modern routes in the direction of energy and safety and also balancing ties with Moscow and Washington.
Talking about the matter, the oil minister, Dharmendra Pradhan said, “Nowadays will be remembered as a golden day for India’s energy safety roadmap.” The gas will be carried to India by a cryptogenic ship named ‘LNG Kano’ which is a major cargo of LNG below a 20-year cope. The ship is expected to arrive on the next week.
The CMO of Gujarat further tweeted, “Union Minister Dharmendra Pradhan today received ‘LNG Kano’, the cargo under the long-term contract between GAIL and Gazprom of Russia at Dahej and termed it as golden day in India’s energy pursuit and a step towards transforming India into a gas-based economy.”
Russia helped a lot in the field of India’s oil and natural gas sector. Dharmendra Pradhan said that India will import gas price $1.5 billion per year as per the deal signed by GAIL in the year 2012. All these long-term gas deals will be into operation including the Gazprom which is offering the most aggressive one.
Pradhan further mentioned about Russia’s contribution to India in the field of oil and gas by saying that it had all started when Russia begin to finance India during the construction of Mumbai High field in the year 1970. This prolonged gas supply deal develops a good relationship between India and Russia which helps in forging closer strategic cooperation between both the countries.
Apart from that, the Chairman of GAIL, BC Tripathi is planning to hold a bold and forward-looking decision for continuing this strong bonding between Russia and US with India. The aim of this is to reduce the country’s continuous dependence on the West Asian gas and secure supply security. The oil minister further said that this prolonged import of gas from Russia will go on in minimizing the risk which is arising out of geopolitical situations.
India is planning to increase its energy shares from 6.5% to 15% by the year 2030. The aim of this is to reduce the economy’s carbon footprint and rapidly increase the city gas networks. This beginning of gas supplies from Russia will help in decreasing the imports from West Asian countries hence reducing the finance.