ONGC consortium inks pact for sourcing LNG from Iran - Myiris.com

, in association with Hinduja Group and Petronet LNG have entered into two broad enabling agreements with Iranian authorities, for participation in development of gas fields and liquidification facilities in Iran, in return for assured minimum 6 million ton LNG per annum on long term basis.

Oil Tanks manufacturing facility, India.

OVL and ALPS to have in aggregate 40% participating interest in the liquidification facilities of Iran LNG, with possible enhancement of equity  up to 40%. Investments in the above ventures are to be securitized through deposit of sovereign funds of Iran with Indian banks. Alternatively, the sale proceeds of crude oil supplies to Indian refineries may be used by the Iran for such securitization as collaterals.

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