H-Energy Plans LNG Terminal at Kakinada Port
Mumbai-based H-Energy has signed a pact with Kakinada Seaports to develop an LNG regasification and reloading terminal at Kakinada Port on India's east coast, it said on September 9.
East Coast Concessions Private, a unit of H-Energy, signed a port service agreement with Kakinada Seaports on September 6 in the city of Hyderabad. H-Energy shall develop an LNG hub at the Kakinada Port catering to the needs of domestic customers in the state of Andhra Pradesh and shall supply LNG through small LNG vessels to H-energy’s upcoming Kukrahati LNG terminal in the state of West Bengal and neighbouring countries like Bangladesh and Myanmar, the company said.
“We believe that Kakinada with its existing breakwater and deep draft combined with its close proximity to various natural gas pipeline makes this an efficient and successful project for our customers, our partners, and ourselves,” H-Energy CEO Darshan Hiranandani said.
H-Energy is developing two other LNG import terminals in India. The first of these facilities in the western state of Maharashtra is due to start up in the fourth quarter, with an initial regasification capacity of 3mn mt/yr. The company aims to break ground on a similar plant in the eastern West Bengal region later this year.
The company last week signed a memorandum of understanding (MoU) with Russian Novatek to jointly invest in each other’s LNG projects.