New Delhi / Singapore: India Will Increase Natural Gas Imports (LNG) which is disbursed from next year because Swan Energy’s private company starts his floating terminal, increases the country’s capacity to be sent in very cold fuel up to 47.5 million tons per year (MTPA ).
New demand for LNG from India is expected to support the price of Asian gas which rose to record the highest earlier this year, partly assisted by the transition from coal or oil to developing gas.
The Storage and Regasification Unit of Floating 5-MTPA (FSRU), located in Jafrabad in the West Gujarat state, will be assigned in April, said P Suagavanam, Director at Swan Energy and Chairman of Swan LNG Ltd, who are developing the project.
The FSRU was originally expected to be assigned to the first quarter of last year, but the pandemic and two cyclones had delayed the construction of breakwater breakers, needed to make all weather facilities, Sugavanam told Reuters on Wednesday.
“Breakwater must be completed in March,” said Sugavanam, added that the LNG Ghana theme currently uses facilities to store LNG.
India, the fourth largest LNG importer in the world, wants to increase the share of natural gas in its energy mixture to 15% by 2030, from now on 6.2% to cut emissions.
The company is investing billions of dollars in India to build gas infrastructure as Prime Minister Narendra Modi wants to increase the net fuel share in the Indian energy mixture to 15% by 2030 from 6.2% at this time.
Swan is preparing jetty and will build more tanks to finally double the LNG import capacity, he said.
Gas importer managed by the state, Indian oil Corp.
and Bharat Petroleum Corp., and oil and gas gas exploration firms have rented a capacity of 1 MTPA each at the Swan Terminal.
ATGC earlier this year invited offers from potential suppliers for regular participation in place LNG bought tenders, according to documents obtained by Reuters.
Seven Companies – Emirates National Oil Co (Singapore), Total Gas & Power, PTT International Trading, Vitol Asia, Gazprom Marketing & Trading Singapore, Mitsui & Co and Uniper Global Commodities – Shows interest to participate in the ONGC tender, the source that is familiar with the word material.
Vitol and Mitsui rejected comments while others including ONC did not reply to a comment request.
Swan Energy has 63% of Swan LNG, while the two government entities of Gujarat state together have a share of 26%.
Mitsui holds 11% and is also a technical partner on the project.
The new LNG plant starts next year, to increase import capacity by 12%
