India moots East Siberian pipeline

India has mooted the idea of an East Siberian pipeline, in coordination with China and Japan. The proposed pipeline will help India to pick ...

India has mooted the idea of an East Siberian pipeline, in coordination with China and Japan. The proposed pipeline will help India to pick up Siberian oil from Nakhodka (pacific port in Russia’s far East). China and Japan are already interested in this project as this will create a foundation of Asian oil market. At present, most Asian buyers depend heavily on West Asian crude.

Petroleum Minister Mani Shankar Aiyar, who had a series of meetings in Russia also expressed India’s willingness to pick up Caspian crude from the proposed pipeline linking Mediterranean and Red Sea.

Caspian oil can go via Trans-Black Sea ‘Blue Stream’ pipeline linking Russia and Turkey to the Mediterranean and further to Red Sea via Egypt’s Sinai bypassing the Suez Canal. Aiyar said: ‘‘India is willing to take part in the construction of this pipeline too.’’ In both the cases, GAIL can be a willing party in the construction of these pipelines, the he added.

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A number of MoUs on energy cooperation between India and Russia are expected to be signed before or during Russian President Vladimir Putin’s India visit from December 3 to 5. India has also proposed that alongwith Russia it co-sponsor the International Energy Forum on Central and North Asian oil producers and buyers of oil to create a stable and sustained oil market in the continent.

Further, ONGC and Skochinsky Institute has also finalised the MoU to begin the use of technology developed by the institute in underground coal gasification. A pilot project of 100 wells in four-stage technology would mark the start of the cooperation between the countries.

According to Aiyar, India is now eyeing acquisition of more oil fields in Russia. ‘‘It is now time for India’s participation in Russia to expand beyond Sakhalin-I. We have signalled our interest in taking stake in Sakhalin-3, Severnaya Neft, Vankor and Prirazlomnoye,’’ Aiyar said in a tele-conference from Moscow.