Russia’s Gazprom in talks over LNG supplies to India

October 25th, 2010 - 11:09 pm ICT by IANS  

Moscow, Oct 25 (IANS/RIA Novosti) Russia’s gas giant Gazprom is considering a possible supply of liquefied natural gas (LNG) to India in exchange for its 20 percent stake in the Sakhalin-1 project, a company official said Monday.

“It is one of the elements of the talks, though it is not yet being implemented,” Gazprom’s head of foreign relations Stanislav Tsygankov said of the possible trade-off of the Sakhalin-1 stake.

The Sakhalin-1 project includes reserves estimated at about 307 million tonnes of oil (2.3 billion barrels) and 485 billion cubic metres of gas.

The project is owned by Exxon Neftegas and Japan’s Sodeco with 30 percent each, and Russia’s Rosneft and India’s ONGC with 20 percent each.

–IANS/RIA Novosti

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