Russian energy supplies to India up 20-fold in three years — minister
Sergey Tsivilyov said this success is part of a large-scale reorientation of the Russian fuel and energy complex toward new markets
MOSCOW, September 29. /TASS/. Russian energy supplies to India have shown strong growth, having increased more than 20-fold over the past three years, Russian Energy Minister Sergey Tsivilyov said.
"A few years ago, no one would have imagined that our energy supplies to India would grow more than 20-fold in just three years, with oil alone accounting for 37% of the total, along with other energy resources, in 2024," he said in an interview with Transeft’s corporate magazine.
This success is part of a large-scale reorientation of the Russian fuel and energy complex toward new markets, the minister said, adding that Russia has reoriented its oil exports, with over 60% of supplies flowing to countries in the Asia-Pacific region, with the share of exports to Asia-Pacific countries having increased by 50% last year.
"Oil and petroleum product supplies have been successfully reoriented to the east and south. The share of exports to the Asia-Pacific region increased by 50% in 2024, reaching over 60%," he said.
In addition to India, energy cooperation is actively developing with China, which remains the largest buyer of Russian oil, as well as with Mongolia, Iran, and countries in Latin America and Africa. To improve the reliability of supplies to India, a draft intergovernmental agreement has been developed to expand cooperation in the area of supplies of oil and petroleum products by sea.