Gazprom signs memorandum on supply to India

Gazprom subsidiary Marketing&Trading Singapore, or GM&TS, has signed a fourth memorandum of understanding on liquefied natural gas supplies to India with Indian Oil Corporation Limited, Gazprom said in a statement on Thursday. Gazprom is to deliver 2.5 million tons of LNG per annum for 25 years. In June, GM&TS signed memoranda of understanding with India's major firms GAIL, Gujarat State Petroleum Company (GSPC) and Petronet LNG Limited (Petronet) to supply about 7.5-10 billion cubic meters of LNG a year. Gazprom will supply LNG from the existing and future projects, including the giant hydrocarbon deposits in the Sea of Okhotsk off Russia's Pacific Island of Sakhalin and international assets. Gazprom said in a statement it considered India as one of its key LNG markets, as well as Japan and other Asian countries.