Russia and India Considering Joint Development of Arctic Hydrocarbons

Novatek’s Yamal Liquefied Natural Gas Facility on the Yamal Peninsula in the Arctic (Source: Courtesy of Novatek)

"The possibilities of joint development of hydrocarbons on the Arctic shelf and in Russia’s Far East are under consideration”, said Kremlin advisor Yuri Ushakov. 

The countries are mainly focused on energy cooperation, Ushakov said to TASS, adding that exports of Russian hydrocarbons to India are expanding, with the two countries’ mutual interest in the implementation of joint LNG projects. 

Trade turnover between the two countries "is recovering fairly fast after the pandemic first hit, growth continues," Ushakov said, noting that it soared by 38.1% in January-September 2021, reaching $8.8 billion. 

Cooperation is underway in various sectors, including nuclear energy and space, according to the Kremlin advisor.

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