Coal News We love to talk!

DEC 08 2016

ONGC exploring swap deals to import gas from Myanmar

  • Economic Times, ET Bureau / Hyderabad
  • Created: Thu 08th DEC 2016

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.

 

 

Tags

Bombay Electricity Supply and Transport Gas Natural Gas Oil ONGC China Energy ONGC Videsh Russia Gazprom Engineers India Ltd India ongc

Related News

  • Profits shown only for better ratings: Oilcos  Read more
  • Solar energy needs innovation to realize its potential  Read more
  • Prabhat Kumar Singh takes over as MD & CEO of Petronet LNG  Read more
  • H-Energy for shore-based regasification in Haldia LNG project  Read more
  • ONGCs gas production plan from KG basin may miss June 2019 deadline  Read more
  • Indian Oil's Sri Lanka operations enjoys 10-year tax holiday: Lakshman Yapa Abeywardene  Read more
  • OERC approves OHPCLs ARR and generation tariff for 2015-16  Read more
  • Power producers complain third-party coal sampling is not a reality yet  Read more
  • OilMin forms 'super-board' review panels to monitor ONGC, OIL performance  Read more
  • Coal India units agree to buy back shares, but ratchet up valuations  Read more