IOC Books 1 Mtpa Capacity at Swan LNG Terminal
By Aiswarya Lakshmi
July 14, 2015
Indian Oil Corp. has booked one million tonne a year capacity in Swan Energy’s proposed LNG terminal at Jafrabad in the Indian state of Gujarat, B Ashok, chairman said.
He expects gas to contribute 15 per cent to the energy mix in 5-7 years from 8 per cent now as the country moves to the cleaner fuel.
The terminal has a total capacity of 5 million tonne per annum (mtpa). Earlier, Swan Energy had approached three public sector companies — ONGC, IOC and BPCL — to book capacities to LNG at its terminal at Jafrabad in Gujarat.
The construction of the terminal is expected to begin later this year and the project is likely to be operational by 2018. However, IOC is not looking at buying a stake in the project, Ashok stated.
