India: Ennore Port and IOC in LNG Terminal Talks

India’s Ennore Port is in negotiations with Indian Oil Corp to build an LNG terminal worth about Rs 4,300 crore, The Economic Times reported, citing S Velumani, Chairman and Managing Director of Ennore Port.

“We have proposed to develop an LNG terminal in association with Indian Oil Corp (IOC),” he said.

He also said that the IOC board has approved an investment of Rs 4,300 crore for the development of the LNG terminal.

The proposed LNG terminal will have a capacity of 5 million mt per annum.

1 Indian rupee = 0.020383 U.S. dollars

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LNG World News Staff, February 28, 2012; Image: Ennore Port