Business Standard: Russia eyes gas pipeline deal with India

After it warmed up to China with a $400-billion gas deal, Russia is likely to have India as the next stop for expansion of its hydrocarbon market. During his scheduled India visit towards the end of the year, Russian President Vladimir Putin is likely to discuss plans to build a gas pipeline to the country via China.

Petroleum Minister Dharmendra Pradhan and Russian counterpart Alexander Novak met this week on the sidelines of the World Petroleum Conference in Moscow. The pipeline, either through Pakistan or China, came up for discussions between the two countries' delegations. India and Russia also have long-term liquefied natural gas supply and gas-swap deals on the table if the pipeline does not work out.

If the $30-billion pipeline from Russia via China's Xinjiang province materialises, it will be among the world's most expensive gas pipelines. The proposed $9-billion Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline is struggling to find a consortium leader. Road shows in Singapore, New York and London did not convince global energy firms to take on the role due to Turkmenistan's decision not to give them stakes in its oil & gas fields.
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