Indian LNG strategy
July 10 (LNGJ) - Indian Prime Minister Narendra Modi has ended a visit to Russia and a statement said that both countries were exploring the possibility of expanding cooperation in the natural gas sector and India would continue to import around 3 million tonnes per annum of Russian LNG and the volumes could be increased.
It was also stated that the Indian state-owned company, Oil and Natural Gas Corp. (ONGC), is maintaining its participation in the Sakhalin 1 oil project in the Russian Far East while the choice of a new operator of the joint venture was now underway after the withdrawal of US major ExxonMobil Corp.
India’s ONGC bringing gas field onstream while awaiting Mozambique LNG advance as net profits drop
Oil and Natural Gas Corporation (ONGC), India’s leading energy producer that is set to bring onstream a new gas field in June in the Krishna Godavari Basin in the Bay of Bengal and holds a stake in the Mozambique LNG project, reported a drop in annual net profits while revenues increased.
