India plans first East Coast floating LNG terminal at Kakinada
The first liquefied natural gas (LNG) terminal on the East Coast of India will be built in Andhra Pradesh, project officials confirmed on Wednesday.
The Andhra Pradesh Gas Distribution Corp. (APGDC), Gas Authority of India Ltd. (GAIL), GDF Suez and Shell have signed two agreements to set up a floating LNG terminal at the deep-water port in Kakinada.
The first memorandum of understanding (MoU) set up a terminal company between APGDC, GDF Suez and Shell. The APGDC, a joint venture company of Andhra Pradesh government and GAIL, GDF Suez and Shell, will have 48%, 26% and 26% equity in the project, respectively.
The second MoU is to set up a trading company, and it covers both the sourcing of LNG and the marketing of the re-gasified LNG from the terminal, with the same equity represented in the trading company as well.
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