Russian gas producer Gazprom said on Wednesday it signed a memorandum to supply the Indian Oil Corporation Limited with 2.5 million tonnes of liquefied natural gas (LNG) a year for up to 25 years.
This is the fourth gas deal Gazprom, the world’s largest gas producer, has signed with Indian companies this year.
Last month, Gazprom Marketing and Trading Singapore (GM&TS) signed memorandums to supply LNG to GAIL, Gujarat State Petroleum Company (GSPC) and Petronet LNG Limited, which together could be worth more than $90 billion.
“Gazprom Singapore will provide LNG to its Indian partners from its current and projected Gazprom group production, such asSakhalin, and will be supplemented by its wider Russian and international supply portfolio,” Gazprom said in a statement.
