Indian firms H-Energy and Petronet LNG on Wednesday signed agreements to buy liquefied natural gas from Russian gas producer Novatek on long-term contracts as they looked to vast reserves in the Arctic for meeting energy needs of Asia’s third-largest economy.
The separate agreements envisage the possibility of Indian firms picking up stake in Novatek’s LNG export projects in the Arctic.
Mumbai-based realtor Hiranandani Group’s energy arm H-Energy signed an agreement to buy long-term liquefied natural gas (LNG) from Novatek’s Arctic projects as well as looked at investing in LNG project of the Russian firm, its CEO Darshan Hiranandani told PTI.
