India to pitch for 20% in Sakhalin-3 oil and gas fields

India will pitch for a 20 per cent stake in the Sakhalin-3 oil and gas fields and importing liquefied natural gas (LNG) from Russia when its Energy Minister Sergei Shmatko visits New Delhi tomorrow.

On the insistence of Petroleum Minister Murli Deora, Russian Prime Minister Vladimir Putin is sending Shmatko to attend the conference of energy ministers of the Commonwealth of Independent States that New Delhi is hosting on November 25-26.

Deora, who first raised these issues when he met Putin in Moscow on November 5, is likely to discuss threadbare the modalities of ONGC Videsh Ltd (OVL) replicating its 20 per cent stake in Exxon Mobil-operated Sakhalin-1 oil and gas fields in the upcoming Sakhalin-3 project, official sources said.

During the meeting with Putin, Deora had showed interest in acquiring stake in some oilfields in East Siberia and north Russia. Now Deora would also make a case for OVL joining hands with Russian firm Rosneft for exploring and developing the Vankor oilfield in East Siberia. Joint bidding for Trebs and Titov oilfields in the Timan Pechora region of north Russia is also likely to be discussed.

Besides, importing 2 million tonnes of LNG a year from Russia’s Sakhalin LNG project is also likely to figure during the discussions. Petronet LNG Ltd, the nation’s largest LNG importer, is doubling its Dahej terminal capacity to 10 million tonnes by next year and is keen on imports from Russia, which could be doubled to 4 million tonnes a year later.