Oil India to set up 2.5 mnt LNG terminal

Oil India (OIL) plans to make a footprint in the imported gas segment and as part of this it considers to set up a 2.5-million tonne (mn t) capacity LNG regassification terminal. The company has reportedly appointed Foster Wheeler AG as consultant to prepare a project report for the foray into imported gas.
Initially, the state-run explorer may set up two LNG storage tanks of 160,000 cubic metre each along with regasification facility, a jetty and associated marine facilities, said the industry executive. The consultant would also look at the feasibility of scaling up the capacity to 5 mn t. OIL is a government-owned oil and gas explorer with interest in 65 domestic and 20 overseas blocks. With the proposed LNG terminal, the company will join the league of Petronet LNG (PLL) and Shell India, two gas importers in the country.Other oil firms like Oil and Natural Gas Corporation (ONGC) are also keen to enter the LNG business.