Indian Oil Plans to Double Ennore LNG Terminal's Capacity
(Reuters) — Indian Oil Corp., the country's top refiner, aims to double the capacity of its LNG import terminal at Ennore in southern India, Sandeep Jain, the company's executive director for gas business, said on Friday.
The company plans to expand capacity to 10 million metric ton per year (tpy) amid the growing demand for gas in the country, Jain told reporters at an industry event. He did not elaborate the details.
India wants to raise the share of gas in its energy mix to 15% by 2030, up from the current 6.2%, as part of an effort to cut emissions.
Jain said IOC hopes to boost local sales of gas to 20 million tpy by 2030, a substantial increase from the current 6.3 million tpy.
Aside from the Ennore terminal, IOC has leased capacity in at least two local projects operated by other companies to import gas.
Jain said India needs to sign more long-term LNG import contracts to ensure price stability.
IOC recently signed two agreements for 14-year LNG import contracts worth $11 billion, he said.
Related News
Related News
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
Comments