Reuters: India will not buy gas from Arctic LNG-2

Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to Business FM on the India's refusal to purchase LNG from the Arctic LNG 2 project, as well as current and promising export directions of Russian LNG:

— So far, Russia practically does not supply LNG to India. There are one-time deliveries from Europe, mainly from European importers, so India is not yet a significant market for us, but it is one of the most promising. India is expected to see a fairly rapid growth in demand for gas, of course, for LNG in the coming years, so entering the Indian market is one of the important tasks for Novatek and Gazprom. As for Arctic LNG - 2, India has a fairly consistent position, India in every possible way avoids the risks associated with secondary sanctions, this applies to imports of gas and other goods from Russia, Venezuela, Iran, and other sub-sanctioned countries, so India is always reinsured. This does not mean that there cannot be resales from third countries, this is a completely possible scenario, but for India now, in principle, LNG purchases in Russia are not something fundamentally important.

— There are four operating plants in Russia, not counting Arctic LNG - 2, of which Sakhalin-2 operates entirely for the North-East Asian market, and the rest of the plants are focused on the European market, 75% of their supplies go to Europe, mainly to countries in the EU, a little more in Turkey. And all these plants are critically dependent on the European market. The rest of the supplies of the same Yamal LNG partially go to Northeast Asia, mainly, primarily to China, here are our two markets - Europe and Northeast Asia, and there are single flights to other regions, mainly to Southeast Asia and a little to the South.