India to Come Out With Mangalore LNG Terminal Feasibility Study Soon

India is in the process of finalizing a feasibility report for the establishment of an LNG terminal in Mangalore, according to Veerappa Moily, country’s oil minister.

According to a report in Business Line, the minister said that report is expected in a couple of days.

The establishment of LNG terminal in Mangalore will help bring LNG from Mozambique, as Mangalore will be the nearest route for that country, the newspaper said.

The LNG terminal will be set up with participation from the Japanese company Mitsui, and the public sector ONGC and BPCL, along with New Mangalore Port Trust.

The ONGC-led consortium is expected to complete the project by 2018. The first phase of the terminal will cost $500 million to $750 million, Business Standard had reported in October.

Sign-up for our free weekly newsletter update via email here