Indian Oil Corp's Ennore LNG Terminal to Come Online in 2017-18

State owned energy company Indian Oil Corporation's (IOC) Ennore LNG terminal in the state of Tamil Nadu is expected to go online by third quarter of 2017-18, Indo Asian News Service (IANS) reported.  

IOC chairman B. Ashok said the company’s board has approved the revised project cost for the five million tonne per annum (MTPA) terminal, IANS added.  The terminal was originally slated to begin operations in 2015.

The company has already tied up to procure two million tonnes and is mulling strategic deals for sourcing.

Last month IOC announced it will invest $4 billion in the Canadian province British Columbia (BC) to source LNG from the region. .

Earlier this year, Indian Oil signed a deal with Progress Energy for the acquisition of a 10 percent interest in Progress Energy Canada’s shale gas assets in northeast British Columbia and in the proposed Pacific NorthWest LNG project.