Petronet approves east India LNG import terminal project
India’s biggest LNG importer Petronet LNG has approved the plan to set up a floating storage and regasification unit (FSRU)-based LNG import terminal in the eastern part of the country, the company said on November 10 in a stock exchange filing.
The 4mn metric tons/year project will come up at Gopalpur Port in the eastern Indian state of Odisha. The plan has a provision for conversion to a land-based terminal, at a total project cost of 23.06bn rupees ($280mn), Petronet LNG said.
The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business.
The terminal is expected to come online in three years and will be Petronet LNG’s first greenfield in east India. The company's finance director Vinod Mishra said during a conference call on November 10 that Petronet LNG will soon sign the term sheet with Gopalpur Port, apply for environmental clearance and launch relevant tenders.
Petronet LNG plans to connect the terminal to state-owned gas transportation company Gail’s trunk line which is about 36 km away, Mishra said. The company is also in talks with off-takers, he added. Petronet LNG announced its plan for the Gopalpur terminal in September last year.
The company currently operates two land-based LNG import and regasification terminals on the west coast of India at Dahej in the state of Gujarat and Kochi in the state of Kerala.