Paradip Port Seeks Investment in Second LNG Terminal

Paradip Port Seeks Investment in Second LNG Terminal

Paradip Port Trust (PPT) of India is seeking investment for the construction of a second LNG terminal at Paradip Port, Platts reports.

PPT is in talks with other companies to build a second terminal as it carries out development plans and constructs breakwater facilities.

PPT has already signed a MoU last year with GAIL to build an FSRU in Paradip with an export capacity of around 5 million mt/year of LNG.

GAIL has committed to invest Rupees 31 billion ($525 million) to build the first phase of the terminal by 2017. The company will invest a further Rupees 25 billion to add another 5 million mt/year capacity in the second phase, PPT’s Chairman S S Mishra told Platts.

“GAIL has just completed the pre-FEED study for the terminal and has license to lay gas pipelines from Paradip to Surat on the western coast in Gujarat,”  Mishra said.

[mappress]
LNG World News Staff, June 9, 2014; Image: PPT

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