ExxonMobil, Indian Oil Corporation ink natural gas pact

NEW DELHI: Energy giant ExxonMobil has signed a preliminary agreement with Indian Oil Corporation to explore new models of delivering cost-effective natural gas.

“What really matters is how we accelerate India’s access to affordable, cleaner energy,” said Bill Davis, Lead Country Manager, South Asia, ExxonMobil.

“This initiative focuses on exploring new models of delivering cost-effective natural gas in India where it is most needed to complement traditional pipelines,” the company said in a statement.

Indian Oil is the second-biggest gas marketer in the country. It operates an LNG terminal at Ennore on the east coast.

ExxonMobil has been planning to enhance its presence in India’s gas market and been looking for local partners.