AG&P Breaks Ground on LNG Import Facility at Karaikal Port
- Business & Finance
AG&P, a Singapore-based downstream gas and LNG logistics company, has broken ground on its LNG Import Facility at Karaikal Port, Puducherry in India.
Owned and operated by AG&P, the Karaikal LNG is being built on a 12-hectare site within the Karaikal Port, the only deep-water port on the East Coast of India south of Chennai. It is expected to commence commercial operations by Q4 2021.
The terminal is scheduled to have an initial capacity of one million tonnes per annum (MTPA), and it will include a Floating Storage Unit (FSU) leased through a long-term charter agreement with ADNOC Logistics and Services from 2021.
“AG&P is deeply honored to have the opportunity to bring Karaikal LNG to fast-growing and dynamic Southeast India. It will become a landmark infrastructure development for the region and is ideally suited for the Karaikal Port, a critical center of trade,” JM Sigelman, CEO of AG&P said.
“AG&P takes on the value chain from import of LNG through to delivery of gas to end-customers – vehicles, kitchens, large and small factories, power, restaurants and malls. Karaikal LNG is a cornerstone project for Pondicherry, Tamil Nadu and Karnataka that will provide clean, affordable fuel.”