India may join Yamal LNG project

India is considering investing in "Yamal LNG" natural gas project.

India is considering investing in "Yamal LNG" natural gas project, Reuters reported on Thursday, June 23, with reference to the statement made by the Indian Minister of Oil Darmendry Pradhan.

According to him, Indian companies are also thinking about purchasing shares in "Rosneft". The interviewee added that Indian companies have only invested $ 5-6 billion in the recent acquisitions in Russia.

Earlier, the co-owner and head of "Novatek" Leonid Michelson 1 stated that the "Yamal LNG" project has been implemented by more than 50%, and almost 96% of future production has already been contracted. He points out that to date, the project shareholders have invested about $ 13 billion in it.

On June 20, Bloomberg, citing sources, wrote that Russia wanted to sell 19.5% of shares in "Rosneft" to structures in China and India for $11 billion as part of privatization. The officials said that the authorities were looking for buyers for a stake in the oil company, and would prefer a joint deal with the two countries, occupying the leading position on the market in terms of energy consumption growth.

Russia, therefore, hopes to get at least 700 billion rubles ($11 billion) from the sale, which would be a record figure in privatization for the state, said the agency.

First published in Russian by

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