AG&P to Develop LNG Import Terminal at India’s Karaikal Port
- Business & Finance
Philippines-based Atlantic, Gulf and Pacific Company (AG&P) has signed an exclusivity deal with India’s Karaikal Port (KPPL), to develop an LNG import terminal at the port, including LNG sourcing and supply.
The Karaikal Port, a deep-water facility located on the east coast of India, has allocated an area within its existing breakwater to develop the terminal to serve power, industrial and other customers in the region. The LNG terminal, which is a part of the port’s expansion beyond commercial cargos, received an Environmental Approval (EA) for its development in May 2017.
“With the addition of AG&P’s LNG import terminal, Karaikal Port will continue to be an engine of growth for the region’s future,” GRK Reddy, Chairman and Promoter Director of KPPL, said.
The development of AG&P’s LNG import terminal at Karaikal Port shall complement Indian Oil’s under construction LNG terminal at Ennore 300 kilometers to the north and will provide wider gas accessibility to Puducherry and Tamil Nadu, according to the company.
“AG&P’s coming Karaikal LNG terminal is a landmark development that will accelerate industrialization, create jobs, trigger overall economic and social development and lead to much needed cleaner air,” GRK Reddy added.
AG&P informed that the Karaikal terminal is scheduled to be up and running by mid-2019.