The Hindu : Business : India keen to import LNG

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Saturday, Nov 08, 2008
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Business

India keen to import LNG

Sujay Mehdudia

Two million tonnes of gas may be required annually

Indian companies can hold talks with Gazprom
Seeks stake in Siberian oil assets

NEW DELHI: Petroleum and Natural Gas Minister Murli Deora on Friday said that he had sought big time participation of Indian companies in the Russian oil and gas fields, particularly in East Siberia, and had expressed interest in importing liquefied natural gas (LNG) from Moscow to meet its ever growing energy needs.

Mr. Deora, who returned from Russia on Thursday, said he had had sought two million tonnes a year of LNG from Russia’s Sakhalin LNG project during his meeting with Russian Prime Minister Vladimir Putin in Moscow on November 5.

Mr. Deora said Mr. Putin was very positive in his response and said that Russian gas monopoly Gazprom would decide on selling LNG to India and was of the view that Indian companies could hold talks with them. Besides LNG, Mr. Deora said he had taken up with Mr. Putin ONGC Videsh’s stake in big-ticket Sakhalin-3 oil and gas field.

The issue of OVL joining hands with Russian firm Rosneft for exploration and development of Vankor oilfield in East Siberia also formed part of the talks between the two leaders. Joint bidding for Trebs and Titov oilfields in the Timan Pechora region of North Russia also came up for discussion. However, Mr. Deora said the Russian Prime Minister informed him that the fields were available but Indian companies would have to take part in the bidding process implying that no special favour would be doled out to India.

ONGC Videsh has a 20 per cent stake in Exxon Mobil-operated Sakhalin-1 oil and gas fields in Far East Russia. India is keen on Russian companies investing in new refineries and petrochemical projects in India.

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