Oil India Plans LNG Terminal

Oil India Ltd is planning to set up a 2.5 million tonne liquefied natural gas (LNG) receiving terminal in India.

Business Standard reports that to begin with, Oil India is looking at the feasibility of setting up two LNG storage tanks of 160,000 cubic metres each along with regasification facility, a jetty and associated marine facilities, said the industry executive. It would also look at the feasibility of scaling up the capacity to 5 mt.

Besides Oil India, Oil and Natural Gas Corporation is also keen to enter the LNG business. Although petroleum marketers Indian Oil Corporation and Bharat Petroleum, along with ONGC and Gail, are already present in this business indirectly through an equity stake in PLL, they have been testing waters for putting up new receiving terminals.