ONGC to diversify into crude and gas shipping

Jun 23, 2004 02:00 AM

Energy giant Oil and Natural Gas Corp (ONGC) plans to diversify its operations into crude and gas shipping.
The state firm has already announced plans to diversify into petrochemicals, power and LNG.

ONGC chairman Subir Raha said it is looking at shipping crude oil from Sakhalin fields in far east Russia, where its subsidiary OVL has 20 % stake.
It is also contemplating shipping LNG for its upcoming import terminal at Mangalore.

Source: Asia In Focus
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