India and Saudi to explore submarine power cable connectivity

21 Oct 2022 , 08:34 AM

News reports claimed that India and Saudi Arabia pursue a cross-country initiative carried by the tide of a new era of energy diplomacy. The Gujarat coast may soon hook up to the Middle East with deep sea cables, creating a green energy grid.

In order to lay the groundwork for the visit to India next month by the Saudi Prime Minister and Crown Prince Mohammed bin Salman, Prince Abdulaziz bin Salman, the Saudi Arabian energy minister, will be in New Delhi on Friday for a day-long visit.

Reports said both parties are likely to start talks on an undersea cable for an electrical grid involving South Asia and the Gulf nations, expanding the subject beyond oil exports. The two are investigating the project’s business potential.

The Abu Dhabi government might also join the ambitious project if India approves. The project’s capital expenses, according to industry estimates, might range from $15 billion to $18 billion. However, the reports mentioned above emphasized that these figures were preliminary.

Leading corporations like the Tata Group, Reliance Industries Ltd., JSW, and Adani, among others, have already received invitations from the Saudi envoy to India asking for their opinions. The crown prince will visit India first before travelling to Indonesia, South Korea, and Japan.

Electric cables are being used by several nations to link continents for power. Europe is experiencing an energy crisis as the cost of gas and oil rises. In 2021, Russia was the bloc’s top oil and gas provider, meeting around 40% of its whole energy requirements. However, energy costs have increased since the invasion of Ukraine and the application of sanctions, leaving some countries concerned about supplies this winter.

For feedback and suggestions, write to us at [e-mail]