Union Minister for petroleum and natural gas Dharmendra Pradhan on Monday termed the deal between Russia and India to bring Liquefied Natural Gas (LNG) as a "big achievement" in the energy roadmap.
Interacting with media here after receiving the first consignment of LNG, Pradhan said in next 20-year around $25 billion worth gas and annually $1.5 billion worth LNG will be bought from Moscow.
"To bring Russia's Liquefied Natural Gas (LNG) in India is a big achievement in our energy roadmap. In next 20 years, $25 billion worth gas will come to India and nearly $1.5 billion worth of Liquefied natural gas (LNG) will be bought from Russia every year. It is a successful deal between India-Russia," Pradhan said.
The petroleum minister said that India has become one of the biggest sources of gas market and Russia plays a vital role in increasing its Petroleum industry.
He said that the day will be marked as the Golden Day in India's energy roadmap.
"Four years back, we were importing LNG from only Qatar. Today we are getting LNG from Australia, US and now Russia," Pradhan said.
India today received its first cargo of LNG from Russia under a deal in a bid to make the country a gas-based economy.
Being the world's fourth-largest buyer of LNG, India's aim is to diversify from coal and oil dominated source of energy.
State-owned Gas Authority of India (GAIL) India Ltd brought the shipload of LNG from Gazprom, a Russian supplier, at Petronet LNG Ltd's import terminal in Dahej, Gujarat.
GAIL had signed the deal on August 29, 2012, with Gazprom Marketing and Trading Singapore Pte Ltd, Singapore.
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