Russia seems to be turning to India for a market for its oil now that its deals with the Chinese are not working out.
8China and Russia finalized a gas deal in May 2014 which involved construction of two pipelines that would transport Russia’s gas to China. The first pipeline, originating in East Siberia was called the ‘Power of Siberia’ pipeline while the one originating in West Siberia was called the ‘Power of Siberia 2’ or ‘Altai’ pipeline. The equity firms in China suspended the ‘Power of Siberia 2’ project in July, leaving the Russians in jeopardy.
8The ongoing Chinese economic slowdown and stock market crash would mean that Russia needs to be extremely wary China’s investment plans. Statistics from InvestorIntel even revealed that Russia’s exports to China dipped by 20 percent when compared to last year.
8With the China story fizzling out, Russia is now planning to build up its presence in China’s neighbor India. With huge internal energy consumption and a bustling economy, India is set to grow faster than China in 2015 and 2016 according to the recent projections from the IMF. After China, India is the next best logical alternative for Russia to strengthen its Asian ties and move away from western sanctions.
For more details visit indianpetroplus.com
8China and Russia finalized a gas deal in May 2014 which involved construction of two pipelines that would transport Russia’s gas to China. The first pipeline, originating in East Siberia was called the ‘Power of Siberia’ pipeline while the one originating in West Siberia was called the ‘Power of Siberia 2’ or ‘Altai’ pipeline. The equity firms in China suspended the ‘Power of Siberia 2’ project in July, leaving the Russians in jeopardy.
8The ongoing Chinese economic slowdown and stock market crash would mean that Russia needs to be extremely wary China’s investment plans. Statistics from InvestorIntel even revealed that Russia’s exports to China dipped by 20 percent when compared to last year.
8With the China story fizzling out, Russia is now planning to build up its presence in China’s neighbor India. With huge internal energy consumption and a bustling economy, India is set to grow faster than China in 2015 and 2016 according to the recent projections from the IMF. After China, India is the next best logical alternative for Russia to strengthen its Asian ties and move away from western sanctions.
For more details visit indianpetroplus.com
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