Edited by Jennifer I. Considine
Chapter 2: Oil on the waters of RIC energy relations
The chapter analyzes the new trend in Russia’s energy policy, i.e. its gradual shift to China and India, and discusses the long-term and short-term reasons, challenges, risks and implications of this Eastern vector. Rosneft, the number one Russian oil company, is the driver of this turn to the East. Initially, it made the focus solely on China acting along several directions: raising Chinese credits, expanding crude exports to PRC within the framework of oil-for-loans deals, providing access to CNPC and Sinopec to Russian upstream, and trying to establish a niche in the Chinese downstream. This growing exposure of Rosneft to China that became even stronger due anti-Russian sanctions was causing concern of Russian politicians and analysts and weakened Rosneft’s positions at negotiations with its Chinese counterparts. However, recently Rosneft signed several strategic deals with the Indian petroleum companies, both partnering with them in the development of Russian oil reserves and buying downstream assets in India. These deals improved the balance of forces between Russia and China, but, probably, created new uncertainties in the Russia-India-China triangle.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.