Russia offers Indian firms stake in Yamal LNG project – Feedback

Russia has offered Indian oil companies a stake in the second phase of Yamal LNG, the biggest project to produce liquefied natural gas in the Arctic.

The offer of stake in JSC Yamal LNG was made when Oil Minister Dharmendra Pradhan visited St. Petersburg last month, sources privy to the development said. Petronet LNG, India’s biggest natural gas importer, is studying the offer, they said adding other state-owned firms like Indian Oil Corp (IOC) may join in later. Novatek OJSC, Russia’s second-biggest natural gas producer, had in 2013 offered a 9 per cent stake in the USD 27 billion Phase-I of Yamal LNG project to a consortium of Petronet, IOC and ONGC Videsh Ltd.

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