India’s Oil & Natural Gas Corporation (ONGC) is looking to buy a 26% stake in Indian Oil Corporation’s (IOC) Ennore LNG project in Tamil Nadu.
“ We held detailed discussions with IOC on stake in Ennore terminal in October last year and hope to conclude a deal shortly ,” the Press Trust of India (PTI) cited an unnamed official at ONGC as saying.
ONGC wants the right to bring in at least a quarter of the LNG at Ennore and market it, according to the report.
Indian Oil is building a 5 mtpa LNG import terminal at Ennore near Chennai which is to be completed by 2017.
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LNG World News Staff, January 17, 2014; Image: Ennore Port