Proposed LNG Regasification Terminal: ONGC-NMPT sign MoU

Proposed LNG Regasification Terminal: ONGC-NMPT sign MoU

Mangalore Today News Network

Mangalore, March 18, 2013: The ONGC led consortium has signed a Memorandum of Understanding with the New Mangalore Port Trust on March 18, Monday at Hotel Taj Gateway, with regard to the proposed ambitious LNG Regasification Terminal  Project to be set up   at New Mangalore Port, Panambur.  The consortium, apart from ONGC comprises of  Bharat Petroleum Corporation Limited (BPCL), Mitsui and Company Limited of Japan. As per the Memorandum of Understanding, the Port has given its no-objection to carry out feasibility studies  for a terminal of 2-3 MMTPA capacity, expandable to 5 MMTPA and has also agreed to extend all possible co-operation in the implementation of the project.

 

The MoU was signed in the presence of Chief Minister Jagadish Shettar, Union Minister for Petroleum and Natural Gas, Veerappa Moily, Oscar Fernandes, several ministers, elected representatives and officials of the oil industry.

In his address Moily  said he was extremely pleased to state that the project would be initiated during his tenure as Petroleum Minister. Karnataka and Mangalore will benefit to a great extent from this project and added it will be a gateway to prosperity. He also sought the support of the people of the state and the city for the project.

Sudhir Vasudeva, Chairman of ONGC said the project when completed will make Mangalore the petroleum hub of the country.

Dr P Tamilvanan, Chairman-NMPT, described the project as a milestone in the history of New Mangalore Port. Mr Suzuki, Chairman of Mitsui and Company, Japan, R K Singh, Chairman of BPCL also spoke on the occasion.

K S Jamestin (Director, HR of ONGC)  who welcomed the gathering,  said the ambitious project will place  Mangalore on the world LNG Map.Laxmi Kumaran of ONGC compered the  programme.