ONGC, Gazprom sign energy cooperation agreement

New Delhi, Feb 9 (UNI) State-owned Oil and Natural Gas Corporation (ONGC) and Russia's Gazprom has signed an agreement to expand their mutual co-operation in the hydrocaron and power sector.

The two companies will jointly explore oil and gas fields in India, Russia and third countries. They will also take up midstream and downstream oil and gas projects in the two countries.

Supply of liquefied natural gas (LNG) to India and implementation of compressed natural gas projects in India are also a part of the agreement, an ONGC statement said today.

The agreement was signed by ONGC Managing Director R S Butola and Gazprom Deputy Chairman A I Medvedev.

The two companies will also sign agreements on technical and scientific co-operation, exchange of specialists and staff training shortly, the statement said.

The next meeting of the Joint Working Group is in Russia in July.

UNI