ONGC''s Iran Block Likely To Be LNG Source

ONGC, which has been trying to join hands liquefied natural gas (LNG) contracts for its proposed Mangalore LNG terminal, is confident of getting gas from its abroad investment arm ONGC Videsh Ltd''s (OVL) Farsi block in Iran. The company has been trying to get LNG supplies before building a terminal with a capacity of five million tonnes a year to be expanded to 10 mt at Mangalore. The field is hoped to begin producing in the next three years, and efforts are on to bring the gas either directly or indirectly to India. Meanwhile, they are also eyeing at Oman and Australia for getting LNG for the proposed terminal.