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Cabinet approves land for IOC’s Ennore LNG terminal
Published on May 9, 2013
The Cabinet on Thursday approved leasing of land of Ennore Port Ltd for a Rs 4,320-cr liquid gas (LNG) import terminal being built by state-owned Indian Oil Corp (IOC).
IOC plans to build a 5 million tonne a year liquefied natural gas (LNG) import facility at Katupalli (Ennore) by 2016.
“The Union Cabinet has given its approval for leasing of land measuring 520,000 square meters of Ennore Port Ltd (EPL) to the joint venture led by IOC for 30 years for setting up of LNG storage and re-gasification terminal project at Ennore Port,” Information and Broadcasting Minister Manish Tiwari told reporters in New Delhi on Thursday.
The terminal will have an initial capacity of 5 million tonne per annum which can be expanded to 10/15 million tonne in future.
Tamil Nadu Industrial Development Corporation (TIDCO) may take a 5-10 percent stake in the project, in which IOC will hold majority stake.
Ennore will be the third LNG terminal on the east coast with state-owned gas utility GAIL India building a facility at Kakinada in Andhra Pradesh and Petronet LNG Ltd setting up a 5 million tonne facility at Gangavaram in Andhra Pradesh.
Royal Dutch Shell also plans to set up a floating LNG terminal at Kakinada.
LNG is a natural gas that has been cooled down to liquid form, taking up just 1/600th of the volume in its gaseous state for ease of transportation by sea.
“Ennore Port is located near the North Chennai Industrial Hub which houses industrial units, such as Madras Fertilizers Ltd (MFL) and Chennai Petroleum Corp Ltd (CPCL) who would also be the users of LNG,” an official statement said on Thursday.
The project, it said, will help EPL to utilise gainfully the land and waterfront available with them.
Also, it will lead to the socio-economic development of the backward areas in and around Ennore Port.
IOC, which operates 10 of India’s 22 refineries and has a 30.8 percent share of the nation’s 213.18 million tonne per annum refining capacity, also plans to lay 1,175 km of pipelines to transport gas imported at the Ennore LNG terminal to consumers.
