ONGC Eyes Long-Term LNG Deals and Renewable Energy Acquisitions to Strengthen Future Energy Portfolio

1. ONGC plans to conclude several long-term LNG deals over the coming 12 months, ensuring stable and diversified gas supplies crucial for India’s energy transition.
2. The company seeks to secure around 3 MTPA of LNG, reflecting its focus on cleaner fuel sources amidst environmental commitments and energy security considerations.
3. Alongside LNG procurement, ONGC is also embarking on an ambitious drive to acquire renewable energy projects with a capacity ranging between 2.5 GW to 3 GW.
4. Executives highlighted that integrating renewable assets aligns with ONGC’s vision of expanding its energy portfolio and supporting India’s net-zero targets.
5. These initiatives symbolize ONGC’s strategic shift towards a balanced energy mix comprising fossil fuels and renewables to navigate future market dynamics.
6. In summary, ONGC’s efforts to secure LNG supplies and invest in sizable renewable capacity affirm its commitment to strengthening India’s energy security and sustainability landscape.

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