Indian Oil Corp Books Capacity in Swan Energy's Proposed LNG Terminal

Indian Oil Corp. has booked one million tonne a year capacity in Swan Energy’s proposed LNG terminal at Jafrabad in the Indian state of Gujarat, B Ashok, chairman, told Financial Express, a business daily.

The terminal has a total capacity of 5 million tonne per annum (mtpa).

The state owned energy major is not looking at buying a stake in the project, Ashok told the newspaper.

Swan Energy had approached three public sector companies — ONGC, IOC and BPCL — to book capacities to LNG at its terminal at Jafrabad in Gujarat.

Industry watchers are wary of the fact that despite being stakeholders of Petronet (which is into business of marketing LNG), ONGC, BPCL and IOC are considering to book capacity at Swan Energy’s upcoming terminal, Financial Express reported.

The construction of the terminal is expected to begin later this year and the project is likely to be operational by 2018.