Posted on January 7, 2019
PTI quoted Indian Oil Corp, the nation’s biggest oil firm, as saying that it will commission its first liquefied natural gas import terminal at Ennore in Tamil Nadu this month. IOC Chairman Mr Sanjiv Singh said the INR 5,151-crore terminal is complete and would be commissioned after completion of dredging of the channel that will bring cryogenic ships carrying natural gas in its liquid form to the port. He said that “We hope to commission the facility this month.”
Once dredging is complete, IOC will bring a cargo or shipload of LNG to commission the terminal. This is the first LNG import terminal IOC has built on its own. The company holds 12.5 per cent stake in Petronet LNG Ltd, which operates import facilities at Dahej in Gujarat and Kochi in Kerala. It has also booked capacities in upcoming terminals on both east and west coast.
The dredging is being carried out by Ennore Port Trust.
Asked about diluting stake the Ennore project, he said nothing has been finalised as yet. He said that “There are a lot of people who have shown interest.”
Malaysian state-owned oil and natural gas producer Petroliam Nasional Bhd, or Petronas, as also Petronet LNG, India’s biggest LNG importer, have expressed interest in taking a stake in the Ennore plant.
IOC holds 95 per cent stake in the Ennore LNG import terminal. Tamil Nadu Industrial Development Corporation (TIDCO) has 5 per cent. The state-owned refiner wants to retain a minimum 50 per cent stake in the project and so, practically 45 per cent stake is available for the taking.
Source: Steel Guru
