Interaction Between Russia and India in the Field of Hydrocarbon Logistics

Pauline Albertovna Lyalina*, Valeria Dmitrievna Dyakonova, Lada Avenirovna Podolyanets and Albert Leonidovich Feldman
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Pauline Albertovna Lyalina*: Master of oil and gas faculty St. Petersburg mining University St. Petersburg, Russia
Valeria Dmitrievna Dyakonova: Master of oil and gas faculty St. Petersburg mining University St. Petersburg, Russia
Lada Avenirovna Podolyanets: Doctor of economics Professor of Economics, accounting and Finance St. Petersburg mining University St. Petersburg, Russia
Albert Leonidovich Feldman: PhD in economics Professor of the Department of energy Institute of oil and gas of Siberian Federal University Krasnoyarsk, Russia

The Journal of Social Sciences Research, 2018, 440-447 Special Issue: 3

Abstract: In the last decade the Russian Federation has become a major player in international trade. It provides world market with a large range of products: from mineral raw materials to products of manufacturing by the its industrial complex. Establishing ties and even bigger integration in international trade is an important aspect for the development of the country’s economy. Russia’s major trading partners are China, CIS countries and Europe, but the strengthening of relations with the countries of the Asian region (the Republic of India, the countries which are locates next to the Persian Gulf) is also important. A prospective partner in the field of trade relations in this region can become the Republic of India because the relationship between countries has a history that can characterize them as fairly friendly and based on the principles of equality and respect for each side’s points of view. Many industries are spheres of cooperation, including oil and gas. The purpose of this study was to identify perspective ways of interaction between Russia and the Republic of India in the field of hydrocarbon logistics. To achieve the research goal the following tasks were formulated: • Identification of potential and/or already implemented opportunities to strengthen cooperation between the Russian Federation and the Republic of India in the field of hydrocarbon logistics; • Analysis of the world experience in organizing the interaction of various states in the field of research;• Formulation of an innovative proposal to strengthen cooperation between the Russian Federation and the Republic of India in the field of hydrocarbon logistics; While solving the following tasks a comprehensive version of the relationship development between the Russian Federation and the Republic of India in the field of hydrocarbon logistics was proposed, which includes the following elements: ? Regular supply of crude oil by sea; ? Creation of a strategic reserve of oil for the Republic of India in the territory of the Russian Federation; ?Alternative option in case of force majeur circumstances – the arbitration transaction; ? Construction of the pipeline as option of strategic long-term interaction. Carrying out this study the following methods were used: general scientific methods, methods of economic analysis, content analysis. The theoretical significance of the work is essential since all the elements of this option are proposed to be implemented as a whole with the aim of strengthening the relations between the countries under consideration and establishing long-term partnerships in the oil and gas sector. Practical significance lies in the possibility of leveling down the risks associated with the disruption of hydrocarbon supplies to the Republic of India.

Keywords: Export; Trade; Oil; Construction of pipeline; Strategic oil reserve (search for similar items in EconPapers)
Date: 2018
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