Payment in Indian rupees is on the table amidst talks between GAIL-Novatek for LNG supply.

Three industry sources said last week that Novatek was close to a deal to supply gas to GAIL as it seeks alternative markets in Europe.

Mikhelson said Novatek was talking to more than one Indian company on a long-term contract for the Indian market.

Russia supplied Europe with some 17 million tonnes of LNG last year, up about 20% from 2021 volumes.