NEWS
India 's ONGC proposes imports from Sakhalin
Mumbai, July 26 (LNG journal
- India's Oil and Natural Gas Corp. (ONGC) said it submitted a proposal to the Indian Petroleum Ministry to import liquefied natural gas amounting to at least 3 million tonnes a year from the Sakhalin-I terminal in Russia's Far East.
ONGC's international arm, ONGC Videsh, has a 20 percent stake in the project and the other partners are ExxonMobil , Russia 's Rosneft and Japanese group Sodeco.
ONGC's initial proposal is in addition to continuing talks with Chinese buyers to import gas through a pipeline. ONGC said it holds the contractual status of preferred buyer for Rosneft's share of oil and gas from Sakhalin -I.
Analysts say the proposal faces difficulties in execution as all consortium partners have to agree to the LNG option and contracts between the partners are so structured that the total exportable surplus has to be marketed in an integrated manner.
