Chart Industries has this week signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) to promote the development of the LNG market in India.

The two companies have entered into this MoU based on complementary synergies and mutually beneficial business objectives arising from the demand growth of natural gas in India.

Working together, both parties will explore opportunities for cooperation to promote natural gas and LNG development in multiple industrial and commercial sectors.

The companies will focus on:

  • Modular liquefaction
  • Regasification applications
  • LNG bunkering for barges and other marine applications
  • LNG and LCNG vehicle fuelling stations
  • Alternative LNG mobile transportation, such as railcars and ISO containers
  • LNG micro bulk systems

chart

Source: Chart Industries

Jill Evanko, Chart’s President and CEO, said, “The LNG opportunity in India is significant, as evidenced by the government’s commitment for clean fuel, and the double-digit LNG growth forecasts.”

“We are excited about working with IOCL as it expands our reach into the LNG market in India and provides IOCL with speed to market as well as expanded service access.”

“This opportunity originated from the recent acquisition of the VRV businesses now within our portfolio of offerings.”