ONGC/OVL, Hinduja Group, Petronet agree to Iran LNG development
Dec. 21, 2009
ONGC/OVL, in association with Hinduja Group and Petronet LNG, have agreed with Iranian authorities to develop gas fields and liquefaction facilities in Iran in return for a minimum 6 million metric tons of LNG per annum on long-term basis.
Offshore staff
NEW DELHI -- ONGC/OVL, in association with Hinduja Group and Petronet LNG, have agreed with Iranian authorities to develop gas fields and liquefaction facilities in Iran in return for a minimum 6 million metric tons of LNG per annum on long-term basis.
ONGC, OVL, ALPS and Petronet LNG have agreed to take a 20% aggregate interest in the liquefaction facilities, with a possible increase to 40%.
In addition, Iranian authorities are considering OVL's proposal to develop the field and bring gas produced from Farsi block to India either through pipeline, LNG, or a swap arrangement.
