Ennore Port, Indian Oil to Ink LNG Terminal Deal

In order to kick start the liquefied natural gas (LNG) plant at Ennore, Ennore Port Ltd will soon sign an agreement with Indian Oil Corporation to transfer 132 acres of port land to the corporation.

The next step will be to sign a commercial agreement with IOC to include details such as revenue share and port-related charges, Business Line reported.

“We hope to sign the agreement in two-three months,” Business Line quoted a senior EPL official as saying. “IOC is considering the option of signing the two agreements together,” he said.

Once the agreements are signed, IOC will start construction of wharf, pipeline, regassification plant, tie up with gas suppliers and bring gas liners to Ennore. IOC wanted the plant to start functioning in the next three years, he said.

Ennore will be the fourth LNG terminal on the east coast of India.