BackSHV Energy expands LPG storage terminal capacity in Tuticorin by 30,000 tn
The expansion ensures LPG supply to the Indian market, primarily through SHV Energy’s Indian subsidiary Supergas
PremiumSHV Energy has expanded its cryogenic LPG storage terminal facility in Tuticorin by 30,000 tonnes at an investment of about ₹500 crore, the company said in a statement.
“The facility, which is situated at the port, will expand from 8,500 metric tonnes to 38,500 metric tonnes, representing an investment of about INR 500 crore," the company said.
The expansion ensures LPG supply to the Indian market, primarily through SHV Energy’s Indian subsidiary Supergas. SHV Energy’s Singapore-based trading unit S&RM (supply & research management) will also supply third parties via the Tuticorin terminal.
“Our strategy for expanding this terminal is to ensure that our customers in Tamil Nadu have easy and affordable access to LPG. This expansion will allow us to offer government-run oil companies both the LPG and the storage facilities they need, thereby optimising logistics and strengthening the overall LPG landscape in India," said Bram Gräber, CEO of SHV Energy.
“LPG will help to accelerate India’s long-term energy needs and will support the country’s transition away from more polluting fuels, such as coal and oil," he added.
LPG is not only a cleaner fuel than many existing alternatives, it’s also much more accessible in India and can more easily reach areas that natural gas cannot reach, said Santanu Guha, CEO of Supergas.
“LPG also has many important applications, from being used as a cooking gas, to transport and increasingly used in Industry. We look forward to further deregulation of the market to ensure increased investment in LPG infrastructure in support of India’s long-term energy needs," he added.
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