Hiranandanis to set up floating LNG terminal in West Bengal

Hiranandanis to set up floating LNG terminal in West Bengal

Mumbai: Real estate developer Hiranandani Group has decided to diversify into import and distribution of liquefied natural gas (LNG), and will be setting up a floating LNG import terminal off Haldia, in West Bengal, at a cost of INR24bn ($380m).

The 4m tonnes per annum (tpa) capacity floating storage and regasification terminal will be set up by H-Energy Pvt Ltd, the energy arm of the Mumbai-based group, some 115 km off the Haldia coast by the first quarter of 2019.

The company plans to lay pipelines to connect the onshore terminal to users, and will move the imported gas by pipeline from Contai in West Bengal to Paradip in Odisha and Dattapuli in West Bengal. The demand for the gas is forecast at 14.4m cubic metres per day.

Potential users of the gas include Indian Oil Corporation’s Haldia and Paradip refineries, Haldia Petrochemicals, and a number of fertiliser plants in Paradip and Haldia. Some of the gas may also be sold to customers in Bangladesh.

Shirish Nadkarni

Shirish Nadkarni is a management consultant and freelance international journalist, who has been writing on all spheres of Indian business for the past three decades for a number of reputed overseas publications. An avid sportsman, Nadkarni has represented India in international veterans' badminton since 1997, and was the 55+ age group doubles world champion in 2005.

Related Posts