ONGC exploring swap deals to import gas from Myanmar

Source: Times of India, Dec 07, 2016

NEW DELHI: A unit of India’s Oil and Natural Gas Corp Ltd (ONGC) is in early talks with Gazprom for supply of natural gas through a complex swap involving Russia, China and Myanmar, the head of the unit said on Wednesday.The unit, ONGC Videsh Ltd, and two other Indian state companies, GAIL and Engineers India Ltd , first discussed the idea with Gazprom a few months ago, said Narendra K. Verma, ONGC Videsh’s managing director.”Myanmar is sending gas to China through an existing pipeline … if Russia can provide equivalent gas to China, then we can reverse the flow of gas from Myanmar to China and bring that gas to India,” Verma told reporters on the sidelines of India’s Petrotech energy conference.

“For that we’ll need a pipeline from Myanmar to India.”

He said this was the best way of getting Russia to help India with its gas needs, but would need the cooperation of China and Myanmar.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: