Hiranandani Group’s H-Energy signed an agreement with the French LNG player Engie to charter the FSRU GDF Suez Cape Ann.
The company is set to start importing liquefied natural gas (LNG) in the third quarter of 2018, the company’s CEO Darshan Hiranandani told Reuters.
The vessel has been chartered on a five-year contract, enabling the company to import up to 4 million tons of LNG per year.
H-Energy has entered into a port concession agreement with JSW Jaigarh Port and has awarded the contract for the construction of LNG jetty to JSW Jaigarh Port, and received clearance to build the jetty in December last year.
At the end of February, the company said the jetty construction works at the terminal started.
The terminal will be connected to India’s gas market via a 635-kilometer pipeline the company is constructing.
H-Energy’s general manager of origination, trading and marketing, Manish Tiwari said the FSRU is capable of reloading previously imported cargoes onto other carriers, giving the company the ability to trade volumes depending on the market conditions.
He said the company is currently in negotiations with traders to utilize the FSRU as an optimization tool, adding that some of the LNG supply for the terminal has already been secured while negotiations for additional supplies are still ongoing.
LNG World News Staff
Source: LNG World News
