Russia Moves to Reinforce Energy Ties with India
The minister said Russia is prepared to supply India with liquefied natural gas (LNG) from both current and future projects, aligning with India’s goal to increase gas’s share in its energy mix to 15%. He also emphasized India’s role as a major buyer of Russian coal, with Moscow aiming to raise coal exports to 40 million tons by 2035.
“India remains one of our key partners,” Tsivilev said. “In 2024, a significant share of our oil exports went to India, and supplies remain at a high level this year. To enhance the reliability of transportation, we are developing a Russian-Indian intergovernmental agreement to expand cooperation in the supply of oil and petroleum products by sea.”
Data show Russia shipped 26.2 million tons of coal to India in 2023, up from 20 million tons in 2022.
Previously, Russian Deputy Energy Minister Dmitry Islamov identified China, India, and Africa as the most promising markets for Russian coal, noting that thermal coal demand is concentrated in China, while coking coal is in highest demand in India.
Tsivilev’s remarks come as new sanctions hit Russia’s energy sector. Last week, the US imposed restrictions on Russia’s two largest oil companies, Rosneft and Lukoil, which supply crude to India and China.
On Friday, India’s top refiner, Reliance Industries, stated it is assessing the impact of Western sanctions on its Russian suppliers and will adjust operations accordingly while ensuring domestic energy security.
Russia’s crude oil exports to India have surged over the past three years, reaching roughly 1.7 million barrels per day in 2024, up from about 50,000 bpd in 2020. New Delhi has resisted Western pressure to reduce trade with Moscow, arguing that its energy imports reflect market realities and national interests.
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