Posted Mar 8, 2014, 3:15 AM
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is watching.
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Join Date: Apr 2007
Location: Greater Victoria
Posts: 3,083
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More potential customers securing long term gas supplies:
IOC (Indian Oil Corporation) picks 10% in Canadian project from Malaysia’s Petronas
Hindu Businessline
New Delhi, March 7, 2014
Quote:
Making its foray into North America, IndianOil Corporation (IOC) has signed a deal to buy a 10 per cent stake in natural gas assets and a linked liquefied natural gas project in North East British Columbia, Canada, for about $900 million (₹5,500 crore).
The Indian refiner has signed the deal through its subsidiary IndOil Montney with Petronas Carigali Canada, part of Malaysia’s Petronas, it said on Friday.
This investment would provide IOC an opportunity to secure upstream participation in the highly prospective Montney play in Canada, along with securing long-term gas supply through the Pacific NorthWest LNG export facility for India’s growing requirements.
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