You are here: Home » Companies » News
Business Standard

Petronet LNG may partner with OVL for its maiden overseas project in Qatar

The project would be Petronet's maiden venture into the natural gas exploration and production business and overseas LNG terminals

Reuters  |  NEW DELHI 

Oil demand, the report says, is slowing down, but it will not be reversed before 2040
Oil demand, the report says, is slowing down, but it will not be reversed before 2040

India's Ltd wants to partner with (OVL), the overseas arm of India's biggest explorer Oil and Natural Gas Corp Ltd, to pick up a stake in an upcoming exploration and liquefied natural gas (LNG) project in Qatar, a said.

The project would be Petronet's maiden venture into the natural and production business and overseas terminals.

"We will be signing a non-confidentiality agreement with in the next one week or so, and then evaluate the project," Prabhat Singh, of Petronet told Reuters at the International Energy Forum on Wednesday.

A non-confidentiality agreement would allow to speak with other interested parties about the project in addition to Petronet.

Singh said would give Petronet access to its data rooms for evaluation of the project within a month's time.

The upstream project will feed into a 23 million tonnes per annum terminal, Singh said.

Singh did not say how large of a stake Petronet and OVL would jointly pick up and when the deal would be signed.

Petronet currently runs a 15 million tonne per annum at Dahej in the western state of and a 5 million tonne refinery at Kochi in southern

It is India's biggest importer and supplier of

 

(Reporting by Promit Mukherjee; Editing by Christian Schmollinger)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, April 11 2018. 10:33 IST
RECOMMENDED FOR YOU