Russian-Asian cooperation in the oil and gas sector becomes stronger and deeper

Russia’s partners in Asia see great prospects for cooperation, and this is mutual. The proximity and nuances of the international partnership were discussed by participants in the International Session “Prospects for Russian-Asian Cooperation in the Gas Sector, LNG, Hydrogen and Gas-Powered Transport” held as part of the SPIGF-2023.

In 2023, the amount of Russian gas supplies to China will break the records of previous years, and exceed 30 billion m3, according to Gao Qi, CCPIT General Representative in Russia, which he told the audience via video link. He said that gas consumption in China is higher than production to meet demand in the domestic market, and called energy cooperation with Russia the key one. Gao Qi noted that eco-friendly energy sources are increasingly valued, and the level of technology becomes higher, which makes it possible to use them more efficiently.

Maksim Kuznetsov, Chairman of the Russian-Asian Business Council, suggested to the audience how to effectively attract investments from China for large projects. According to him, success will be achieved by focusing on government agencies, developing personal relationships, high-quality PR and including projects in official protocols. Besides, he drew attention of the audience to the trends in the state policy of the Russian Federation: the open-door policy for imports will end soon, however state support measures are rapidly expanded. Herewith, the expert believes that, for achieving the best conditions, it is worth working with local consultants and business associations.

Kumar Gaurav, Indian Consul General in St. Petersburg said that the Indian authorities plan to provide 98% of the Indian population with the opportunity to use LNG. He called the forecast realistic, according to which the volume of cooperation in this area between India and Russia will reach 3.5 billion US dollars by 2030. «Our bilateral relations have been developing in the framework of the particularly privileged strategic partnership since India gained independence. Russia is India’s largest Partne», said Kumar Gaurav.

He also noted that, in February 2022, the share of crude oil imports from Russia was less than 1%, and now it is 42%, exceeding the volume of supplies from Iran. India expects gas demand to double and oil to triple by 2040, so there is huge potential for cooperation and investments. In addition, he invited everyone to Goa, where the Energy Week will be held in February 2024.

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Russian-Asian cooperation in the oil and gas sector becomes stronger and deeper

Russia’s partners in Asia see great prospects for cooperation, and this is mutual. The proximity and nuances of the international partnership were discussed by participants in the International Session “Prospects for Russian-Asian Cooperation in the Gas Sector, LNG, Hydrogen and Gas-Powered Transport” held as part of the SPIGF-2023.

In 2023, the amount of Russian gas supplies to China will break the records of previous years, and exceed 30 billion m3, according to Gao Qi, CCPIT General Representative in Russia, which he told the audience via video link. He said that gas consumption in China is higher than production to meet demand in the domestic market, and called energy cooperation with Russia the key one. Gao Qi noted that eco-friendly energy sources are increasingly valued, and the level of technology becomes higher, which makes it possible to use them more efficiently.

Maksim Kuznetsov, Chairman of the Russian-Asian Business Council, suggested to the audience how to effectively attract investments from China for large projects. According to him, success will be achieved by focusing on government agencies, developing personal relationships, high-quality PR and including projects in official protocols. Besides, he drew attention of the audience to the trends in the state policy of the Russian Federation: the open-door policy for imports will end soon, however state support measures are rapidly expanded. Herewith, the expert believes that, for achieving the best conditions, it is worth working with local consultants and business associations.

Kumar Gaurav, Indian Consul General in St. Petersburg said that the Indian authorities plan to provide 98% of the Indian population with the opportunity to use LNG. He called the forecast realistic, according to which the volume of cooperation in this area between India and Russia will reach 3.5 billion US dollars by 2030. «Our bilateral relations have been developing in the framework of the particularly privileged strategic partnership since India gained independence. Russia is India’s largest Partne», said Kumar Gaurav.

He also noted that, in February 2022, the share of crude oil imports from Russia was less than 1%, and now it is 42%, exceeding the volume of supplies from Iran. India expects gas demand to double and oil to triple by 2040, so there is huge potential for cooperation and investments. In addition, he invited everyone to Goa, where the Energy Week will be held in February 2024.

More