India's state-claimed Oil and Natural Gas Corp (ONGC) has chosen to pull out of Novatek's Yamal LNG venture.

An Indian consortium involving ONGC's abroad arm ONGC Videsh Ltd, Indian Oil Corp and Petronet LNG was searching for a 9-10 percent stake. ONGC chose to pull out after it did a danger appraisal of the task, a source near improvements was cited as saying.

Yamal LNG is a task for the advancement of the South Tambeyskoye field with demonstrated stores of 1.3 trillion cubic meters of common gas, and the development of three lines of a characteristic gas liquefaction plant for delivering 5 million tons each every year. The dispatch of the primary line is booked for the end of 2016. Yamal LNG ought to achieve full limit in 2018.

Russia's top non-state gas maker Novatek, which controls 60 percent of the undertaking, has never uncovered the expense of the task. It was assessed at $23 billion by UBS and at about $20 billion by Investcafe. France's Total possesses 20 percent of the Yamal venture, while another 20 percent is controlled by China National Petroleum Corp (CNPC).

India is still liable to get LNG from the Yamal venture, by means of a supply assention marked amongst Gazprom and GAIL in 2012.