New Delhi is considering participating in Russian oil and liquefied natural gas (LNG) projects in the Arctic as cooperation with Moscow

New Delhi is considering participating in Russian oil and liquefied natural gas (LNG) projects in the Arctic as cooperation with Moscow could open vast opportunities for India in the resource-rich region.
“We are establishing cooperation in geological exploration, joint development of oil and gas fields on the territories of the two countries, including offshore projects, which will eventually allow India to become the first non‑Arctic state to extract resources in the Arctic,” Russian Foreign Minister Sergey Lavrov said in an interview with the Times of India.

India, one of the largest and fastest growing LNG markets, wants to get Russian LNG from the Arctic to satisfy its growing energy demand. It could join the Arctic LNG project led by Russian energy giant Novatek, according to India’s Minister for Petroleum and Natural Gas Dharmendra Pradhan.

“We are also studying the opportunities to participate in the future Novatek project in the Arctic. We are looking into all the opportunities to get LNG from this region,” the minister told reporters on Wednesday.The interest in Russian gas supplies comes as India turns away from joint projects with neighboring Pakistan. New Delhi has refused to sign a memorandum of understanding on the Iran-Pakistan-India gas pipeline construction amid escalating tensions with Islamabad.