Russian major enters into LNG deal with IOC
Bhopal   22-Jul-2011

Russias natural gas monopoly ‘Gazprom’ has entered into a mega commercial deal with IndianOil (IOCL) to deliver 2.5 million tonnes of 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 will supply 2.5 MT of LNG to IOCL, Russias official ITAR- TASS news agency reported. The two companies have been successfully cooperating since 2007 as cooperation in hydrocarbons. Gazprom will source LNG to India from its existing fields and new sites in Russia and abroad.