Gazprom in LNG deal with IOC
New Delhi   22-Jul-2011

Russia's natural gas monopoly Gazprom has entered into a mega commercial deal with IOC to deliver 2.5 million tonnes of liquefied natural gas (LNG) over the next 25 years, according to media reports. Under the deal signed in London, Gazprom through its Asian subsidiary Gazprom Marketing and Trading Singapore (GM&TS) will supply 2.5 million tonnes (mt) of LNG to IOC, Russia's official ITAR-TASS news agency reported. The two companies have been successfully co-operating since 2007 as co-operation in hydrocarbons. Gazprom will source LNG to India from its existing Sakahlin-2 offshore gas fields and new sites in Russia and abroad. In a release in Moscow, Gazprom said it considered India as 'one of its key LNG markets', along with Japan and other Asian countries.