GAIL Bins Paradip LNG Terminal Plans
- Business & Finance
India-based gas utility GAIL has scrapped plans for a floating liquefied natural gas (LNG) import terminal off Paradip coast in Odisha.
However, the plans, which would have included a strategic partner, were abandoned as a different project, led by Royal Dutch Shell and GDF Suez off Kakinda gains momentum.
“Since GAIL is presently not pursuing the project further, this EoI for selection of strategic partner for FSRU project at Paradip Port, Odisha stands withdrawn,” the Economic Times quoted GAIL as saying in a notice.
The floating LNG import terminal was supposed to have an initial capacity of four million tonne per annum (mtpa), reaching a peak capacity of 4.8 mtpa, with a storage capacity of 170,000 cubic metres.
The first phase of the project was planned to go live in 2017.
GAIL had inked an MoU with the Paradip Port Trust to establish the terminal.
World Maritime News Staff