State-owned Indian Oil Corp Ltd aims to have 13.5 million tonnes of liquefied natural gas (LNG) import capacity in five years, head of business development G K Satish said on Friday, as India moves toward a gas-based economy under Prime Minister Narendra Modi. The company is also looking at signing a long-term LNG supply deal, he said. Indian Oil currently has a sourcing agreement for long-term supplies of 0.7 million tonnes from the Cameron LNG Project in the United States. Supply from the project will begin by end of 2018, Satish said.
Indian Oil aims 13.5 mn tonnes of LNG import capacity in 5 years
The company is also looking at signing a long-term LNG supply deal