LNG Alliance intends to invest around $290m over the next three years to develop, construct and operate a Floating Storage and Regasification Unit (FSRU), with the import terminal possessing an initial capacity of four million tonnes per annum (MTPA).
With the potential for expansion up to 8 MTPA over the next 20 years, the FSRU will feature an ISO LNG containerisation and LNG truck loading facility.
Stating that it is an ‘important step’ to meet India’s cleaner energy goals, Dr Muthu Chezhian, CEO, LNG Alliance, Singapore, added, “As part of this agreement, LNG Alliance will also be open for third party access and will provide the most competitive tolling rates in India, based on the LNG sourced from our supply partners.”
India’s energy consumption is estimated to grow by at least 35% from now to 2030, making a reliable low carbon source of natural gas a necessity to mitigate the effects of climate change.
Cheryl Goh, Executive Director, LNG Alliance, Singapore, said, “The LNG Terminal at NMPT will bring many benefits to the households and industrial customers in Karnataka, most importantly affordable natural gas supply.”