India seeks stake in Sakhalin-3

• India has sought at least 20 per cent stake in the prolific Sakhalin -3 oil and gas fields even as Petronet LNG, the nation's largest liquefied natural gas (LNG) importer, was in talks with Russia's Gazprom to jointly develop projects to produce LNG, marketing and transportation of gas.
• Interestingly, ONGC Videsh (OVL) has been raising the issue of stake in the Far East Russian oil and gas fields since the last five years but Moscow has not responded to its overtures favourably.
• OVL is keen on replicating its 20 per cent stake in Exxon Mobil-operated Sakhalin-1 oil and gas fields in the upcoming Sakhalin-3 project.