News Brief | February 2016
Petrogas to set up LNG terminal at Krishnapatnam
Petrogas Private Limited, a joint venture company between Isomeric Holdings Bhd from Malaysia and LEPL Ventures Pvt Ltd (LEPL) from Vijayawada, has signed a facilitation MoU with Krishnapatnam Port Company Ltd (KPCL) and Andhra Pradesh government for setting up a regasification and floating storage Terminal at Krishnapatnam Port with an investment of around `3,000 crore at CII Partnership summit.
Petrogas will construct a 5 million tonnes per annum (MTPA) capacity regasification and storage plant and related ancillary facilities like floating LNG storage tanks, regasification unit etc in Phase-I. The company seeks to commence commercial operations within three years and it proposes to double the capacity to 10 million tonnes in another three years time.
Petrogas is in touch with Petronas to be a strategic partner both for supply of LNG and also to be a part of the project.