H-Energy selling stake in LNG Gateway project

H-Energy selling stake in LNG Gateway project

Hiranandani Group’s H-Energy is reportedly looking to sell a stake in its LNG terminal on India’s west coast in order to raise funds for the construction. 

A 26% stake has already been sold in an LNG terminal on the east coast and talks for a similar deal are underway for a project on the west coast, Live Mint reports.

Darshan Hiranandani, director at H-Energy said the company signed a deal with Excelerate Energy for the east coast project that is set to cost $600 million. The project is based on an FSRU with a 6 mtpa capacity and will be set up off West Bengal.

The company is in similar negotiations with major oil and gas companies for its LNG terminal project on the west coast, as it needs funds before the construction on the 8 mtpa facility kicks off in August. This terminal will be the first to allow third parties to import LNG and regasify it for a fee.

The LNG terminal project is located at JSW Jaigarh Port near Ratnagiri, Maharashtra.

LNG World News Staff; Image: H-Energy

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