ONGC and Indian Oil Collaborate on LNG Plant Development

New Delhi, June 21, 2024: ONGC and Indian Oil Corporation Limited (IOCL) have signed a memorandum of understanding (MoU) to develop a small-scale Liquefied Natural Gas (LNG) plant near the Hatta Gas Field in the Vindhyan Basin. This strategic partnership aims to harness cutting-edge technology and reduce carbon emissions, aligning with India’s climate change mitigation goals. The plant’s establishment will upgrade the Vindhyan Basin’s status, unlocking new opportunities in the energy sector. This collaboration demonstrates ONGC and IOCL’s commitment to innovation, sustainability, and India’s energy self-sufficiency. Financial Conclusion: This partnership is expected to generate significant revenue for both companies, attract investments, and boost economic growth. The development of the Hatta LNG plant will contribute to India’s energy security and reduce carbon emissions, creating a sustainable future.