Work on ONGC's Mangalore LNG Terminal to Start in November

Work on the new LNG import terminal at Mangalore will begin in November this year, India’s energy minster M Veerappa Moily said Saturday.

A consortium of ONGC, BPCL, Mitsui and New Mangalore Port Trust (NMPT) are carrying out a feasibility study for a terminal with a capacity of 2-3 million tonnes per annum, Business Standard newspaper reported.

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 added.

The Memorandum of Understanding (MoU) was signed by ONGC, Bharat Petroleum Corp Ltd (BPCL), Mitsui of Japan and NMPT for the LNG terminal at Mangalore in March this year.

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