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Russia finds alternatives to the European market in India and Pakistan

31 October 2017
Consumers
energynomics

Russia, which controls and manages huge gas reserves in energy-rich Iran, plans to export gas to Pakistan and India by laying an offshore pipeline, ignoring pressure from the United States that has fiercely opposed the building of Iran-Pakistan (IP) gas pipeline for years.

Moscow is looking to meet growing gas needs of Pakistan and India as an alternative because it fears it may lose energy markets in Europe following a long tussle with the United States and the European Union over the annexation of Ukrainian region of Crimea.

“Russia holds huge gas deposits in Iran and has offered Pakistan and India gas exports by laying an offshore pipeline that will pass through Gwadar Port,” a senior government official said while talking to The Express Tribune.

“Russia is even ready to finance feasibility study on viability of the offshore pipeline,” the official said, adding the plan was being discussed with Russian authorities. It was even taken up with a Russian team that visited Pakistan recently.

The official pointed out that the US knew about the gas reserves held by Russia in Iran, which was the reason why Washington opposed the IP gas pipeline. The IP project will open an avenue for Russia to lay a parallel pipeline for gas export to Pakistan and India.

The official revealed that India was also interested in purchasing gas from Russia through the offshore pipeline from Iran via Gwadar, believing it was a safe way for energy import.

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