Tuesday, October 29, 2019

Deals: "Igor Sechin looks to India for funding of grand Arctic oil project"

India is definitely in the market for supply.*
From the Barents Observer, October 28:

Russian state oil company Rosneft invites Indian companies to invest in the far northern Vankor area and the construction of a pipeline to the Arctic coast. 

https://thebarentsobserver.com/sites/default/files/styles/full_width/public/modi-putin-sechin-rosneft.jpg?itok=VWCL1_g5
Rosneft leader Igor Sechin presents the development of the Zvezda Yard to Indian
 Prime Minister Narendra Modi and Vladimir Putin. Photo: Rosneft.ru
The Indians are from before well represented in northern Siberia [the translations can get a bit choppy- India has companies in Siberia]. Companies ONGC Videsh Ltd., Oil India Limited, Indian Oil Corporation и Bharat Petroresources own 49,9 percent of the joint venture Vankoneft and the latter three also control a major share of  the Taas-Yuryakh Neftedobycha, a company that extracts oil in Yakutia.

Now, Rosneft and its leader Igor Sechin pushes for an expanded engagement of the Indians.
The energy cooperation was high on the agenda during the recent top meeting between Vladimir Putin and Indian Prime Minister Narendra Modi. Few days later, Rosneft leader Sechin paid a visit to New Delhi.

«Both parts confirmed their interest in a possible participation of Indian partners in the project Vostok Oil,» Rosneft informed following the talks.

In late October, Sechin welcomed an expanded Indian delegation in the far eastern city of Vladivostok. In the lead of that delegation was Indian Minister of oil, natural and steel Dharmendra Debendra Pradhan.

The talks took place at the Zvezda Yard, the major shipbuilding facility built by Rosneft. In the delegation were top leaders of several of India’s biggest industrial companies, among them ONGC and Tata Steel....MUCH MORE
*A couple posts that make the point, top one is July 2019.
Energy key to luring India into US Indo-Pacific strategy
 
Way back in 2010 we posted "India Orders Firms to "Scour the Earth" for Energy Supplies as President Obama Heads Over". For India, energy really is the key.