Indian Oil Corporation will invest $4 billion in the British Columbia province, Canada, to source liquefied natural gas from the region.
Premier of British Columbia, Canada Christy Clark said: "Indian Oil is poised to make its biggest investment in Canada to secure natural gas for India from BC." She said the state-run firm will invest $ 4 billion for securing lNG supplies from the Canadian province.
IOC, in May, signed a deal to buy 10 per cent stake in shale-gas assets and a linked liquefied natural gas (lNG) project in British Columbia. The Canadian asset will produce as much as 19.68 million tonnes of lNG a year for 25 years starting in 2018.