MUMBAI, Sept. 27 -- India's state-run Oil & Natural Gas Corp. and Ras Laffan Liquefied Natural Gas Co. Ltd. of Qatar are arranging an equity swap as part of the RasGas LNG supply arrangements from Qatar.
ONGC, a shareholder in Petronet LNG Ltd. of India, plans to exchange interest in Petronet for a stake in the RasGas liquefaction facilities.
India is negotiating on the price of potential additional LNG purchases from Qatar. India Petroleum and Natural Gas Minister Mani Shankar Aiyar plans to visit Qatar in November.
Qatar's Energy Minister Abdullah bin Hamad Al-Attiyah said Qatar is open to helping India fulfill its LNG needs.
RasGas, a joint venture of Qatar Petroleum and ExxonMobil RasGas Inc., produces LNG and other products from gas from North field, which has estimated reserves of over 900 tscf. It is the world's largest offshore nonassociated gas field.