Indian Oil Corp's Ennore LNG Terminal to Come Online in 2016-17

Indian Oil Corporation’s (IOC) maiden 5-million tonnes per annum LNG import, storage and regasification terminal at Ennore in the southern part of the country is expected to go on stream by 2016-17, the state owned company said in its 2013-14 annual report.

The terminal was originally slated to begin operations in 2015.

"Steps have been initiated to have a significant share in the country's gas infrastructure through participation in upcoming gas pipelines (in JVs) and planned import storage and degasification terminal of 5 MMTPA LNG with provision for future expansion to 10 MMTPA at Ennore near Chennai," the company said.

The project will mainly cater to industries and households in southern state of Tamil Nadu.

Earlier this year, IOC expanded its overseas portfolio with the acquisition of 10% interest in new integrated upstream & LNG project- the Pacific North West LNG, based on shale gas, in British Columbia, Canada.

The Canadian asset is a producing asset with total gross 2P reserves of 8.35 tcfe and has generated a gross revenue of CAD 1.56 million during the year, IOC said. The company will have access to assured LNG supply of 1.2 million tonnes per annum from this project for a minimum period of 20 years.