Russia Pitches Sanctioned Arctic LNG Cargoes to Indian Buyers

(Bloomberg) -- Russian officials have held meetings with Indian buyers this week in an effort to sell liquefied natural gas from a flagship export facility sanctioned by the US.

Government officials and senior executives from Novatek PJSC — which leads the Arctic LNG 2 export plant — spoke with counterparts during the India Energy Week conference in New Delhi, according to people with knowledge of the matter. The talks touched on the potential sale of volumes from the plant, hit by US restrictions in 2023.

Indian buyers have not agreed to purchase the fuel, the people said, who asked not to be named because the meetings were private.

Russian companies, including Novatek, held a group discussion with Indian firms on business collaborations Wednesday, but the topic of Arctic LNG 2 wasn’t raised in that specific meeting, Oil Secretary Pankaj Jain told reporters on the sidelines of India Energy Week conference. He said Novatek could hold separate discussions.

The talks with potential customers around Arctic LNG 2 were held in another gathering, the people confirmed.

Leonid Mikhelson, chairman of Novatek, is listed among attendees at the conference. More than a dozen other Novatek officials are also registered.

Novatek didn’t respond to a request for comment.

The Arctic LNG 2 facility began exports last year but has relied on shadow fleet vessels. None of the shipments have yet landed at a foreign port as buyers are reluctant to get caught in Washington’s crosshairs.

The talks in Delhi come after Novatek officials traveled to the US and Brussels during the last few months to try to soften the stance against Russian LNG, according to High North News. Indian Prime Minister Narendra Modi, meanwhile, is due in Washington later this week.

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