Indian Oil aims 13.5 mn tonnes of LNG import capacity in 5 years

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.