The Economic Times quoted IOC finance director AK Sharma as saying the company would only enter long-term agreements for the quantity of gas, without locking in a price.
"This would be to ensure that there is no shock to consumers," Sharma was quoted as saying.
The business newspaper claimed IOC was looking to avoid being left in a similar situation as compatriot Petronet LNG which is struggling to sell on gas bought under a long-term contract with Qatar's RasGas.
Under that deal, Petronet agreed to take 7.5
