INOXCVA and Mitsui have today (12th April) inked a Memorandum of Understanding (MoU) that will see the sharing of technical and commercial expertise for further establishing a virtual pipeline to service the growing LNG demand in India.
Sharing details of the agreement, the companies’ said the MoU entails deployment of small-scale LNG infrastructure including logistics and receiving facilities at customer end and will offer LNG access to the customers not connected to the pipelines.
Further to that, the collaboration will look to capitalise the experience of both the organisations for investigating and establishing small scale energy businesses and projects in mutually agreed geographic locations, thereby making the cleaner fuel more accessible and economically viable.
“Increasing the use of LNG in the progressive and evergreen domains of manufacturing and transport is a priority for our Government, which underlines the benefits of LNG,” said Siddharth Jain, Executive Director of INOXCVA.
“Our partnership with Mitsui, shows our innovativeness and futuristic approach along with our commitment to the country’s vision of gas-based economy, which is self-reliant in all aspects, including energy.”
“LNG is not only a clean and cost-effective fuel but is also safe and reliable. We are delighted that our collaborated efforts with an adept partner like Mitsui will make this green fuel more accessible. A larger gas-based industrial ecosystem is a win-win situation for all stakeholders.”
Kaoru Umehara, Divisional Operating Officer at Mitsui added, “In partnership with INOXCVA we look forward to exploring how we can play a key role in meeting India’s long-term need for cleaner energy.”
“Together we will carry out technical, economic and environmental evaluations for supplying LNG to prospective customers and industrial clusters. We believe our combined expertise will synergize well to bring the benefits of LNG at regional and national levels, and create a sustainable manufacturing ecosystem.”