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India Discusses Natural Gas Swap With Russia, Involving China
Photo credit: MONEY SHARMA/AFP/Getty Images
On 7 December, Narendra K. Verma Managing Director of state-run ONGC Videsh Ltd (OVL) told reporters that India is in talks with Russia to swap natural gas with China and Myanmar as an alternative to building a proposed pipeline to carry gas from Russian Siberia-
Myanmar sells gas to China through an existing pipeline. If Russia can provide equivalent gas to China, then we can reverse the flow of gas from Myanmar to China and bring that gas to India..
Such a swap was the best way of getting Russia to help India with its gas needs, but it would need the cooperation of China and Myanmar. India, which is 81 per cent import dependent on oil, is looking to increase its gas consumption in its quest towards becoming a gas-based economy.
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