Business & Economy

IOC setting up 5 MMTPA LNG terminal at Ennore Port in Tamil Nadu

NetIndian News Network

New Delhi, May 18, 2012

The public sector Indian Oil Corporation (IOC) is setting up a liquefied natural gas (LNG) import terminal at Ennore Port in Tamil Nadu with storage and regasification facilities of 5 MMTPA capacity at an estimated capital cost of Rs 4320 crore.

Minister of State for Petroleum and Natural Gas R P N Singh informed the Lok Sabha in a written reply to a question yesterday that IOC had entered into a memorandum of understanding (MoU) and subsequently Heads of Agreement (HoA) with the Tamil Nadu Industrial Development Corporation (TIDCO) for partnering it in the project.
Besides, Indian Oil Petronas Pvt Ltd, a joint venture of IOC and Petronas Malasia, is setting up LPG import/export terminal at Ennore Port with a tankage capacity of 30,600 tonnes and construction of the project is in progress. The estimated cost of the project is about Rs 497.83 crore, Mr Singh said.
He said the LNG terminal was expected to be completed by March, 2016 and the LPG terminal was expected to be commissioned by August, 2012, subject to clearance from Coastal Regulatory Zone (CRZ) and Ministry of Environment & Forests. 
In reply to another question, Mr Singh said oil marketing companies in India plan to add about 142,633 thousand metric tonnes (TMT) of LPG storage facilities and add 6072 TMT per annum (TMTPA) of additional bottling infrastructure facilities during the 12th Plan period to meet the growing demand for LPG.
He said the proposed investment on the augmentation of LPG infrastructure was about Rs 3,516 crore. In addition, import terminal capacity is proposed to be increased by 1200 TMTPA with a proposed expenditure of Rs 655 crore, he added.