Russian energy giant OAO Gazprom (GAZP.RS) Wednesday said its unit has signed an initial pact to supply up to 2.5 million tons of liquefied natural gas a year to Indian Oil Corp. Ltd. (530965.BY).
Russian energy giant OAO Gazprom (GAZP.RS) Wednesday said its unit has
signed an initial pact to supply up to 2.5 million tons of liquefied natural
gas a year to Indian Oil Corp. Ltd. (530965.BY).
The agreement, for a period up to 25 years, was signed by Gazprom Marketing and
Trading Singapore Pte. Ltd., Gazprom said in a statement.
Gazprom
Singapore
said
it "sees
India
as
one of its key markets for LNG supplies, along with
Japan
and
other North Asian countries, as it continues to strengthen its presence and
operations in Asia-Pacific."
India
also
provides significant gas, power and downstream opportunities, the company
added.
In June Gazprom signed pacts with GAIL (
India
)
Ltd., Gujarat State Petroleum Corp. and Petronet LNG Ltd. to supply up to 2.5
million tons of LNG a year to each.
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