ONGC, Mitsui to Work Together in LNG Sector

Oil and Natural Gas Corporation has signed an agreement with Mitsui & Company of Japan for a wide ranging cooperation in the gas and LNG businesses. Press Trust of India reports that the two companies are expected to set up a re-gasification terminal in the country besides marketing of re-gasified LNG.

“We have signed an MoU that will work on an entire value chain of sourcing LNG to setting up re-gasification terminal. We will study the opportunities,” ONGC chairman and managing director Sudhir Vasudeva said.

ONGC and Mitsui also plan to import LNG from international suppliers on spot, short- and long-term contract basis.

Both the companies signed an MoU on August 14.