IndianOil to invest $4 bn in British Columbia, Canada.

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.

HBL