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Message from Mr D K Sarraf, CMD ONGC


As India’s flagship national oil company, ONGC is entrusted with fulfilling the energy security of one of the fastest growing emerging economies in the world. Besides its current contribution of about 60% of country’s domestic crude oil and 58% of domestic natural gas production, it is also sourcing about 9 million tonne of oil and oil equivalent gas from its overseas operation through its hundred percent subsidiary ONGC Videsh Ltd.

LNG has emerged as an important source of energy for meeting the yawning demand-supply gap in the gas market of the country. Taking this development as an opportunity and considering ONGC’s long term vision as set out in the Perspective Plan - 2030, which envisages 30% of ONGC’s turnover to come from non-E&P businesses by 2030, ONGC is poised to directly enter into LNG business.

What distinguishes ONGC’s efforts from others is that ONGC is evaluating opportunities in the entire LNG value chain in an integrated way, starting from investment in upstream gas opportunities, liquefaction, shipping, re-gasification to pipeline transportation till the re-gasified LNG is delivered at the premises of the customers.

While ONGC’s efforts to acquire upstream gas opportunities and liquefaction abroad would be spearheaded by OVL, ONGC would engage in creating facilities to deliver R-LNG at the domestic market at the most competitive price possible.

ONGC’s move in the LNG space would be guided by the motto: Affordable, Reliable and Accessible, which would reflect the consumer-centred approach of ONGC in this new business initiative.

I am sure this initiative taken by ONGC would help take India inch closer to the cherished long term goal of energy independence.

D K Sarraf