Paradip Port Trust (PPT) of India is seeking investment for the construction of a second LNG terminal at Paradip Port, Platts reports.
PPT is in talks with other companies to build a second terminal as it carries out development plans and constructs breakwater facilities.
PPT has already signed a MoU last year with GAIL to build an FSRU in Paradip with an export capacity of around 5 million mt/year of LNG.
GAIL has committed to invest Rupees 31 billion ($525 million) to build the first phase of the terminal by 2017. The company will invest a further Rupees 25 billion to add another 5 million mt/year capacity in the second phase, PPT’s Chairman S S Mishra told Platts.
“GAIL has just completed the pre-FEED study for the terminal and has license to lay gas pipelines from Paradip to Surat on the western coast in Gujarat,” Mishra said.
LNG World News Staff, June 9, 2014; Image: PPT