ONGC India and Japan’s Mitsui Group inked an initial business agreement on LNG, reports Reuters, citing the Indian company’s chairman Sudhir Vasudeva.
ONGC chairman said: “It is a broad-based MoU for the entire value chain of LNG … right from sourcing to liquefaction to marketing. We will work with them to find out the opportunities.”
According to Vasudeva, the company will consider farming out stake in one of its east coast blocks to Japan’s Index in its next board meeting.
LNG World News Staff, August 29, 2012