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IOC scouting for 3rd partner for proposed LNG terminal

IOC scouting for 3rd partner for proposed LNG terminal
PTI
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First Published: Tue, May 24 2011. 04 26 PM IST
Updated: Tue, May 24 2011. 04 26 PM IST
Chennai: Public sector Indian Oil Corporation is scouting for a third partner for the proposed LNG terminal at nearby Ennore with a project cost of Rs4,320 crore, a top official said here on Tuesday.
Indian Oil and Chennai Petroleum Corporation is setting up the 5 million tonnes per annum (MMTPA) capacity terminal for supply of regassified natural gas. CPCL and IOC have signed an agreement for supply of LNG.
“For this project we are definitely looking for a partner. Right now we are talking to many companies who can become our partner”, IOCL chairman R. S. Butola told reporters after announcing group company Chennai Petroleuem Corporation Ltd’s results.
Stating that the project was “well on course”, he said they have not taken any decision on identifying the partner. “We have not taken any decision on it. But the project is currently on hand,” he said.
For the project, CPCL is gearing itself to receive Natural Gas for its heaters and boilers and also for its power plant and hydrogen generation units.
Butola also clarified they are looking for a partner who has experience in setting up an LNG plant.
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First Published: Tue, May 24 2011. 04 26 PM IST
More Topics: IOC | Indian Oil | LNG terminal | MMTPA | Gas |