Indian Oil Corporation Limited, along with other consortium members, is to set-up four floating LNG terminals on the East Coast of India.
The terminals will each have a capacity of five million tonnes, spread across 1,250km of coastline from Andhra Pradesh to Tamil Nadu.
Three of the four terminals will be set-up by government-owned firms in the consortium; Indian Oil Corporation (IOC) will set-up a terminal at Kamarajar Port, Gas Authority of India Limited (GAIL) will set-up a terminal at Kakinada Port, and Petronet will set-up a terminal at Gangavaram Port.
The fourth terminal will be established by a private firm – KEI-RSOS Petroleum and Energy Pvt – at Krishnapatnam Port.
GAIL is spending around $450m on setting up the terminal, along with laying a pipeline of 350km. The terminal is expected to start operations by 2018. IOC had already conducted the feasibility study on the $774m floating LNG terminal project and expects to commence operations by 2018. Petronet, however, has not yet disclosed details of the investment and plan, despite entered into its pact with the Andhra Pradesh Government some three months ago.
Meanwhile, a subsidiary of KEI-RSOS Petroleum and Energy Pvt Ltd – LNG Bharat – is investing $210m on setting up the terminal in Krishnapatnam Port and laying the 250km-long pipeline from Nellore to Ennore.