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Rediff.com  » Business » Centre approves IOC's LNG project

Centre approves IOC's LNG project

December 24, 2013 11:33 IST

IOCThe expert appraisal committee of the ministry of environment and forests has given its nod to Indian Oil Corporation's Rs 4,320-crore (Rs 43.2-billion) liquefied natural gas terminal project at Ennore, about 25 km away from Chennai.

The capacity of the proposed facility will be five million tonnes a year.

The terminal can be expanded to 10-15 million tonnes a year.

This is part of IOC’s Rs 56,000-crore investment plan during the 12th Plan Period (2012-17).

IOC started marketing of re-gasified LNG in 2004.

As one of the major off-takers of RLNG from Dahej LNG import terminal of Petronet LNG Limited (PLL- a Joint Venture Company of IOCL, BPCL, GAIL and ONGC).

IOC also has a marketing share of 30 per cent of RLNG in the upcoming PLL’s Kochi LNG terminal.

According to the committee, the Ennore port is an all-weather facility. It has all infrastructure facilities in place.

The port has already earmarked water front for LNG jetty and land for storage and regasification terminal in their master plan.

After the completion of the project, RLNG would cater to the southern states.

RLNG will be supplied to customers such as power plants, fertiliser companies through an extensive pipeline network.

LNG would also be supplied by road through cryogenic LNG road tankers.

T E Narasimhan in Chennai
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