GAIL, IOC keen to source LNG from Russia
GAIL (India), Indian Oil Corporation (IOC) and ONGC Videsh Limited (OVL) have expressed their willingness to source LNG on long- and medium-term basis from existing and upcoming LNG liquefaction terminals, including for the Ennore LNG terminal, in Russia. Senior officials in the Petroleum Ministry said the issue was likely to come up for discussion during the upcoming visit of the Russian President, Vladimir Putin, to India in October. It is understood that Russia is considering development of greenfield LNG projects on the Eastern Coast of Vladivostok and capacity expansion of its existing Shakhalin-2 project to cater to Asian LNG markets