GAIL to set up LNG terminal at Paradip Port

For setting up an offshore LNG terminal at Paradip Port in Orissa coast at a cost of Rs 3,108 crore, India's largest state-owned natural gas distributor GAIL (India) has entered into a memorandum of understanding with Paradip Port Trust (PPT). The proposed 'Floating Storage Regasification Unit' will have an initial capacity of four million tonne per annum (mtpa), reaching a peak capacity of 4.8 mtpa, with a storage capacity of 170,000 cu m. The first phase of the project is expected to go on stream by 2017. While PPT would invest Rs 650 crore on breakwater and dredging, GAIL would invest the remaining Rs 2,458 crore. In the second phase, an additional 4 mtpa capacity will be added (peak capacity- 4.8 mtpa), raising the terminal's overall capacity to 8-10 mtpa.