ONGC considers foraying into regasified LNG biz as demand for natural gas rises
Subscribe to enjoy similar stories. New Delhi: With a growing demand for natural gas in the country and its increasing share in the energy baseket, state-run Oil and Natural Gas Corporation Ltd (ONGC) is looking to foray into the regasified liquefied natural gas (R-LNG) space, its director for strategy and corporate affairs Arunangshu Sarkar said. In an interview, Sarkar said that the plans are at a nascent stage and yet to take a concrete shape.
He said that the public sector exploration and production major's diversification is based on four pillars—efficient exploration and production, renewable energy, petrochemicals and regasified LNG. Noting that R-LNG is one of the key pillars for the company's diversification process, Sarkar said: "We are also thinking of entering into that. We have not yet entered,...
it's a work in progress in that, because we know the demand for gas is quite high in the Indian market now. We have the policy decision that gas percentage in energy is increased to 15% by 2030. We are working in that." Also Read | ONGC, bp tie up for exploration, production, energy trading He said that apart from supplying the gas it produces in India, the company would supply imported gas.
In terms of infrastructure for supplying the regasified LNG, he said that the company would initially look at hiring infrastructure such as LNG station and pipelines and in due course may look for investments in such infrastructure. "We are thinking that initially, we will hire infrastructure, give charges to some other player, gradually in due course of time we may take participating interest in other infrastructure," he said. Also Read | Reliance, ONGC, SBI are looking attractive ahead of Budget- Monarch's Bhandari There has
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