Tamil Nadu: Indian Oil Corporation Set To Commission Its First LNG Import Terminal At Ennore This Month

Indian Oil Corporation (IOC), nation’s biggest commercial oil company, on Wednesday (2 January) said that it will commission its first liquefied natural gas (LNG) import terminal at Ennore in Tamil Nadu this month, reports The New Indian Express.

The Rs 5,151-crore terminal is complete and would be commissioned after completion of the channel that will bring cryogenic ships carrying natural gas in its liquid form to the port, said IOC Chairman, Sanjiv Singh.

"We hope to commission the facility this month," Singh was quoted in the report as saying. IOC will bring a cargo or shipload of LNG to commission the terminal, once dredging is complete. This will be the first LNG import terminal built by IOC on its own.

Singh, when asked about diluting stake in the Ennore project, said that nothing has been finalised yet while adding that lot of people have shown interest. IOC holds 95 per cent stake in the Ennore LNG import terminal.

According to the report, IOC wants to retain a minimum 50 per cent stake in the project and so, practically 45 per cent stake is available for others to take.

IOC, as the second-largest natural gas player in the country, is making significant investments in natural gas infrastructure and marketing, in line with the country’s changing energy mix.

"We already have investments across the gas value chain, from LNG import terminals to city gas distribution networks," Singh said.