Shipping ministry to procure LNG vessels

The ministry of shipping has signed a memorandum of understanding with the Inland Waterways Authority of India (IWAI) and Petronet LNG Ltd at the Maritime India Summit in April, with the objective of promoting the usage of LNG barges on National Waterway-1 on the river Ganga. Petronet LNG imports LNG and sets up LNG terminals in the country. Four of the public sector companies in the hydrocarbon sector of the country – Oil and Natural Gas Corp. Ltd, Indian Oil Corp. Ltd, Bharat Petroleum Corp. Ltd and GAIL (India) Ltd – own 50 per cent of the equity in Petronet LNG, while 10 per cent is held by ENGIE and the balance 40 per cent is held by the public. Petronet LNG is looking at various locations on the National Waterway-1 where it can have bunkering storage facilities. According to the ministry of shipping, IWAI and Petronet LNG have been asked to plan and coordinate their work plans in a manner that the LNG barges could commence navigation on the National Waterway-1 by December 2018.