IOC close to signing JV partner for Ennore LNG project

IOC close to signing JV partner for Ennore LNG project

The Indian Oil Corporation said it is close to signing up a JV partner for its proposed Ennore LNG terminal near Chennai. 

The company also informed that it is close to completing talks for the land takeover.

The company’s CEO, Balasubramanian Ashok, told the press that the joint venture would be revealed within a month with the project’s completion expected by end-2017, reports Business Standard.

Ashok added that the company is looking for a strategic partner that could strengthen the JV through sourcing of gas or shipping. Interest was shown by many international companies Ashok said, without revealing names.

IOC has already secured 1.9 million tons of gas supplies from North American LNG projects.

LNG World News Staff; Image: Ennore Port

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