IOC to set up 5 million tonne LNG terminal at Ennore Port

17 May 2012

IOC has proposed to set up an import terminal for liquefied natural gas (LNG) at Ennore Port, with storage and regasification facilities of 5 MMTPA capacity. The project is estimated to cost Rs4,320 crore and the LPG terminal is expected to be commissioned by August 2012, minister of state for petroleum and natural gas RPN Singh informed the Lok Sabha in a written reply today.

IOC, the minister said, has entered into a memorandum of understanding and has since signed heads of agreement (HoA) with the Tamil Nadu Industrial Development Corporation (TIDCO) for partnering in the project.

In addition, the minister said, Indian Oil Petronas Pvt Ltd, a joint venture company of Indian Oil Corporation Limited and Petronas Malayasia is setting up an LPG import/export terminal at Ennore Port with a tankage capacity of 30,600 metric tonnes and the construction is in progress.

The estimated cost of the project is about Rs497.83 crore.

The LNG terminal is expected to be completed by March 2016 while the LPG terminal is expected to be commissioned by August 2012, subject to clearance from costal regulatory zone (CRZ) and ministry of environment and forests, he said.

State-run oil marketing companies are planning to invest over Rs3,516 crore to augment LPG storage and bottling facilities during the 12th Plan period, in order to meet the future demand of LPG, Singh said.