India in talks with Russia to restore natural gas supplies

International Business News  –  India is negotiating with Russia to restore natural gas supplies under the framework of a long-term import agreement between Gazprom and Gazprom, Reuters quoted Gazprom chairman Manoj Jain as saying.

According to reports, Indian Gas has been unable to obtain previously agreed gas imports since May and has had to cut off supplies to customers. Indian Gas Corporation is the largest domestic natural gas distributor and pipeline operator in India.

At the annual general meeting of shareholders held on the 26th, Jain emphasized that natural gas supplies to India are affected by the conflict between Russia and Ukraine. The supply under the agreement with Gazprom accounts for about one-fifth of Gazprom’s total overseas gas supply of 14 million tons per year.

“So, overall, the impact on us is not huge. It’s between 10% and 15%,” Jain said.

In 2012, Gazprom signed a 20-year agreement with Gazprom. Under the contract, Gas India will buy an average of 2.5 million tonnes of LNG per year, with supply starting in 2018.

According to the report, Gazprom Singapore Marketing and Trade Corporation signed the agreement on behalf of Gazprom. But the company is part of Gazprom Germany, which was confiscated by Berlin as part of Western sanctions against Russia.