Russian firm Gazprom plans LNG venture in Kakinada

Top executives of Gazprom, Kakinada Seaports expected to meet this week

- Rituraj Baruah & Manas Pimpalkhare

The move comes amid US sanctions and strained India-US ties.

(AFP)

Gazprom, a Russian state-owned energy giant facing US sanctions, is in talks to build a 5 million tonne LNG regasification terminal at Kakinada port on India’s east coast, as part of plans to invest in Indian ports and gas infrastructure.

Executives of Kakinada Seaports Ltd, Gazprom, and representatives of the Russian Federation embassy in New Delhi are expected to meet this week to discuss the modalities of the proposed $600 million investment, four people said.

“Gazprom is looking to invest in port and LNG assets in India. Currently, it is in talks to set up an LNG terminal at Kakinada port,” one of them said.

“There is global interest in India’s maritime space. Among them, Russian entities including Gazprom have been actively scouting for maritime and port assets in India,” added an Indian government official aware of Gazprom’s talks with Kakinada Seaports. All four people spoke on the condition of anonymity.