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Govt Says Petronet to Finalise Gazprom LNG Deal Soon

  • Petronet LNG Ltd (PLNG.NS) will soon finalise an agreement for sourcing liquefied natural gas from Russia under a pact with energy giant Gazprom (GAZP.MM), an Indian government statement said on Wednesday.In June, Gazprom had signed a preliminary deal with Petronet for the supply of 2.5 million tonnes of LNG annually.
  • India is the world's eighth-largest importer of LNG and the widening gap between demand and supply could mean imports rise as much as five-fold in the next decade.Separately, the overseas arm of Indian state-run explorer Oil & Natural Gas Corp (ONGC.NS) has showed "keen interest" in Russia's Sakhalin-3 and other fields and is in "close talks" with Gazprom to jointly develop projects to produce LNG, the same government statement said.

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