ONGC of India will next week sign a deal to conduct a feasibility study of setting up a liquefied natural gas import terminal at Mangalore, local media reported.
The Memorandum of Understanding will be signed by ONGC, Bharat Petroleum (BPCL), Mitsui of Japan and New Mangalore Port Trust, according to the reports.
The LNG import terminal will have an initial capacity of 2-3 million tons, which can be expanded to 5 million tonnes later and the first phase of the terminal will cost about USD 500-750 million.
[mappress] LNG World News Staff, March 13, 2013; Image: New Mangalore Port Trust