Indian Oil Corporation (IOC) announced that it is expanding its joint venture (JV) with Petronas company to include establishing liquefied natural gas (LNG) terminals, fuel retailing and gas distribution (LNG), Reuters reported quoting Chairman S.M. Vaidya.

This came as a part of IOC’s keenness to conduct partnerships with international companies as well as to boost its contribution to new cleaner energy areas such as hydrogen.

“We are pursuing more such win-win associations with respective segment leaders to explore newer avenues of growth and gain competitive advantage in the future,” Vaidya said.