ONGC to import LNG fro Qatar, Eqypt, Australia

New Delhi, Sep 19: State - run Oil and Natural Gas Corporation (ONGC) today said it will import five million tonnes of LNG a year from - Qatar, Egypt and Australia, to meet the countries growing fuel demands.

ONGC is also seeking petroleum assets in Kazakhstan and Cuba, newly elected CMD of ONGC R S Sharma said at the AGM of the company.

At the sixth round of New Exploration Licensing Policy (NELP) bids, Mr Sharma said ''We are hopeful that the company would win substantial number of blocks under this bidding round also,''he said.

''Natural gas, the emerging fuel of the decade, and its derivatives have huge business potential,'' he said. ''Keeping this in view, the company is aggressively pursuing LNG opportunities,'' Mr Sharma said at the AGM.

ONGC is also planning to spend Rs 2.06 crore to produce 0.78 million cubic metres per day of coal-bed methane gas by June 2007, Mr Sharma said.

UNI