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India: The Emerging Energy Player by Girijesh Pant

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Chapter V

India—Russia Energy Relations: The Emerging Dynamics

The global hydrocarbon market witnessed dramatic changes with the prospects of oil and gas confined within the Soviet block becoming part of the mainstream. Russia’s geopolitical configuration has been radically transformed. Russia is even designated as the energy superpower of the century.1 It is argued, ‘oil may become for Russia, what nuclear status was to the USSR.’ However, it was September 11 that made the global community look towards Russian oil and gas potential in a strategic perspective. It is viewed as a great source to diversify a resource base that is highly concentrated in West Asia. Though the Russian energy policy weighs heavily towards the domestic market, the unfolding ...

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