Mangalore, March 11 (IANS) A consortium led by the state-run Oil & Natural Gas Corporation Ltd (ONGC) will set up a three million tonnes per annum liquefied natural gas (LNG) regasification terminal in this Karnataka port city.
"The New Mangalore Port Trust (NMPT) has given 'no objection certificate' to conduct a feasibility study and assured to cooperate with the consortium in setting up the gas terminal by 2018," the petroleum ministry said in a statement here Monday.
The consortium will have the state-run Bharat Petroleum Corporation Ltd (BPCL), Japanese conglomerate Mitsui and NMPT.
The consortium partners will sign an agreement in the city, about 350km from Bangalore, March 18 in presence of Petroleum and Natural Gs Minister M. Veerappa Moily.
As a fast-growing industrial hub, Mangalore is strategically located to meet the future demand and supply matrix of LNG due to the presence of the state-run Mangalore Refinery and Petrochemicals Ltd (MRPL), petrochemical complex ONGC Mangalore Petrochemicals Ltd (OMPL) and the special economic zone (SEZ).
"Mangalore also has an iron ore industry, fertiliser industry and their ancillary industrial units, which use heavy liquid energy sources like fuel oil and naphtha for their feedstock needs," the statement said.
Demand for LNG in the region is estimated to be around 2.5 million tonnes per annum and is expected to grow in future with the expansion plans of industrial segment and the gas pipeline infrastructure to connect the region with neighbouring states.
Mangalore also doubles up as a transport hub with the LPG import facility of the state-run Hindustan Petroleum Corporation Ltd (HPCL) for supplying cooking gas across the southern states.
"The country's largest facility handles around 1.6-million tonnes of LPG annually, accounting for 35 percent of imports and caters to domestic and non-domestic LPG demand of state-run oil marketing firms such as HPCL, BPCL & IOCL.
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