Gail/Gazprom renegotiation reflects strategic aims
A tanker of LNG for Petronet. Gail’s renegotiation follows a new agreement between Petronet and RasGas. (Petronet)
The renegotiation of Gail’s long-term gas supply contract with Gazprom reflects the geostrategic interests of New Delhi and Moscow, an energy policy expert has told Interfax Natural Gas Daily.
"Russia is acting to preserve its market share. With major new suppliers emerging in the Indian Ocean region – such as Iran, Myanmar and Mozambique – Russia needs to take swift action. Iran enjoys a cost advantage over Russia in the development of new natural gas and LNG production," according to Micha’el Tanchum, a senior fellow at the Atlantic Council covering energy and geopolitics.