Russia to Boost Oil and LNG Supplies to India Amid Energy Crisis

Original: Russian firms can scale up oil, LNG supplies to India: Country's first Deputy Chairman Manturov

The Economic Times•Apr 3, 20263 min

In a Nutshell

Denis Manturov, Russia's First Deputy Chairman, announced during his visit to India that Russian firms can significantly increase oil and liquefied natural gas (LNG) supplies to India. This move aims to strengthen energy cooperation amid the ongoing energy crisis linked to the West Asia conflict.

Key Points

01Russia can increase oil and LNG supplies to India, enhancing energy cooperation.
02Fertilizer supplies to India have risen by 40% and a urea production project is underway.
03The Kudankulam Nuclear Power Plant project is progressing on schedule.
04Discussions included expanding cooperation in various sectors beyond energy.
05Manturov's visit emphasizes the commitment to deepen economic ties between Russia and India.

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Full Summary

During his visit to New Delhi from April 2 to April 3, Denis Manturov (Russia's First Deputy Chairman) confirmed that Russian companies are prepared to increase oil and liquefied natural gas (LNG) supplies to India. This comes amid an energy crisis exacerbated by conflicts in West Asia. He noted a 40% increase in supplies of mineral fertilizers to India and highlighted ongoing projects, including a joint urea production initiative. Additionally, Manturov reaffirmed progress on the Kudankulam Nuclear Power Plant, with new power units being constructed as scheduled. The discussions also covered expanding collaborations in industrial sectors, space, education, and technology, reflecting a multifaceted strategic partnership between Russia and India. Manturov's meetings with Indian officials, including Prime Minister Narendra Modi and External Affairs Minister S. Jaishankar, focused on enhancing trade and strategic cooperation across various sectors.

Key Figures

40%

Increase in fertilizer supplies to India

April 2-3

Dates of Manturov's visit to India

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Why It Matters

The increase in oil and LNG supplies from Russia could stabilize energy prices in India, benefiting consumers and businesses during the ongoing energy crisis.

Who is affected

Indian consumers and businesses reliant on energy supplies.

What to know

The Indian government should monitor energy supply agreements to ensure stable pricing and availability.

FAQ

The discussions included energy, fertilizers, trade, industry, technology, and critical minerals.

Fertilizer supplies have increased by 40%.

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