Russia’s Gazprom to supply LNG to India

July 21st, 2011 - 5:31 pm ICT by IANS  

Moscow, July 21 (IANS/RIA Novosti) Russia’s gas major Gazprom’s subsidiary Marketing & Trading Singapore (GM&TS;) has signed a fourth memorandum of understanding (MoU) with the Indian Oil Corp. Ltd. on gas supplies to India, the company said Thursday.

Gazprom is to deliver 2.5 million tonnes of liquefied natural gas (LNG) per annum to India for 25 years.

In June, GM&TS; signed MoUs with India’s major firms GAIL, Gujarat State Petroleum Company (GSPC) and Petronet LNG Limited (Petronet) to supply about 7.5-10 billion cubic metres of LNG a year.

Gazprom will supply LNG from the existing and future projects, including the giant hydrocarbon deposits in the Sea of Okhotsk off Russia’s Pacific Island of Sakhalin and international assets.

Gazprom said in a statement it considered India as one of its key LNG markets, together with Japan and other Asian countries.

–IANS/RIA Novosti
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