H-Energy to Build Floating LNG Terminal in West Bengal and Canada
Aiswarya Lakshmi
Saturday, April 25, 2015
Business Standard reported that real estate developer Hiranandani Group plans to set up a INR 2,400 crore floating LNG import terminal off Haldia, West Bengal and supply imported gas to users as far as Paradip in Odisha.
H-Energy Pvt Ltd, the Energy arm of the Hiranandani Group, plans to set up a 4 million tons a year floating storage and Re-gasification unit (FSRU) some 115-km off the Haldia coast by first quarter of 2019.
In the Natural Gas business, upstream integration is common. In order to achieve logistical integration with its regasification Projects in India, H-Energy is seriously examining the option of setting up a 13.5 MMTPA natural gas Liquefaction terminal in Canada.
Liquefied natural gas (LNG) will be imported in cryogenic ships at FSRU, reconverted into gaseous state before moving to an onshore terminal.
There seems to be a rush to set up LNG floating storage and regasification units in the east cost with the real estate developers Hiranandanis joining the fray. Their proposed project in Bengal has already received the crucial coastal regulation zone approval even as GAIL plans to float its own tender for a similar project at Kakinada in Andhra soon.
The Hiranandanis, known for their real estate projects in Mumbai and elsewhere are the latest to rush to the deep waters of Bay of Bengal to start work on the latest FSRU ín the east coast, which the group claims would transform gas availability and usage in the eastern region particularly in West Bengal.