New LNG terminal to be developed on the outskirts of Mumbai

Mumbai Port Trust plans to connect the terminal to the national pipeline grid

{reg}Mumbai Port Trust (MbPT) will develop a R4,000 crore LNG terminal on the outskirts of the city, reports The Financial Express. The new terminal is aimed at complementing the liquid cargo handling business and earning additional revenue.

 

MbPT will float a request for qualification (RFQ) to invite energy companies to build the terminal.

MbPT's contribution to the project will be around R700 crore and the land it provides for the LNG terminal, while the remaining portion of the project cost will be funded by the company with which MbPT decides to join hands.

ÔÇ£The planned LNG terminal with floating storage and re-gasification unit will be able to handle 5 million tons of LNG every yearÔÇØ, said Ravi Parmar, chairman of MbPT. The plan is to connect the terminal to the national pipeline grid so┬áthat the natural gas can be transported all the way up to Panipat in Haryana.{/reg}