NEW DELHI (Reuters) - State-run Indian Oil Corp has booked 1 million tonnes per year capacity at a new liquefied natural gas (LNG) terminal on the Gujarat coast as the share of gas in the overall energy mix jumps, its chairman said on Monday.
B. Ashok told reporters he expects gas to contribute 15 percent to the energy mix in 5-7 years from 8 percent now as the country moves to the cleaner fuel.
Earlier on Monday, a senior executive of India's biggest fuel retailer said it planned to buy at least one spot LNG cargo a month in 2015/16 to take advantage of lower short-term prices.
(Reporting by Nidhi Verma; Editing by Sunil Nair)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app