Companies & Finance

Indian companies targeting Russian oil and gas sector

Indian state-owned companies are showing an interest in Russia’s oil and gas sector
By Staff reporter 14 September 2018 0 32551

Indian state-owned companies are showing an interest in Russia’s oil and gas sector, according to The News.

Indian state companies have invested $15 billion in stakes in projects such as the Sakhalin 1 project and are looking for further opportunities.

Russian players are also investing in Indian companies – for example, last year Rosneft took a majority stake in Essar Oil for $12.9 billion. India’s Gail has also secured 2.5 mtpa of LNG supply from Gazprom.