Indian Oil plans to raise spot LNG buys due to lower prices

IOCL is expanding its natural gas business

State-run Indian Oil Corp plans to buy at least one spot LNG cargo a month in 2015-16 to take advantage of lower short-term prices, senior company executive Debasis Sen told Reuters on Monday.

India's largest refiner is expanding its natural gas business as the country, the world's third-largest carbon emitter, aims to cut its dependence on coal and oil.