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Novatek to invest in Indian market, invites Indian companies to partake in its projects

It is noted that the company’s goal remains to reach production of 60-70 mln tons of LNG by 2030

BANGALORE, February 6. /TASS/. Novatek wants to expand its partnership with India and invest in the country’s market, CEO Leonid Mikhelson told reporters on Monday, adding that the company also invites Indian companies to take part in its projects.

"We want not simply to supply LNG to the Indian market, with Indian engineering companies already participating in our projects, and a share of Indian suppliers who provide certain equipment items as is the case now, but we want to expand, we want to invest in the Indian market from the viewpoint of developing consumption, regasification terminals, LNG filling stations. We have experience in Russia and in other countries in this sector. And, of course, we invite Indian companies to participate in our projects," he said.

Novatek is also mulling India’s payment for LNG in national currencies, including the rupee, the CEO added.

The company’s goal remains to reach production of 60-70 mln tons of LNG by 2030, he noted.

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