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Indian firms eye Russia’s Rosneft sale, LNG production

June 18, 2014, 13:51 UTC+3 MOSCOW
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MOSCOW, June 18. /ITAR-TASS/. Indian companies consider taking part in the privatization of Russia’s state-owned oil major Rosneft, Indian Oil Corporation CEO Ashok Balasubramanian said on Wednesday.

“Yes, we are discussing this in the framework of preliminary consultations,” Balasubramanian confirmed.

He said that Indian Oil Corporation was ready to take a state-owned or private partner and discussed the issue with ONGC gas company.

The government plans to sell its 50% plus one share stake in Rosneft by 2016, while a 19.5% stake can be sold in 2014.

Indian companies also consider teaming up with Russian firms in the production of liquefied natural gas, Balasubramanian said.

“India counts on higher energy supplies, including gas, because domestic extraction does not cover our needs. We are looking for possible partners, and Russia is one of the possibilities,” he said.

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