Krishnapatnam Port signs MoU with Andhra, Petrogas for LNG project

MUMBAI: Krishnapatnam Port Monday said that it has signed a memorandum of understanding (MoU) with Petrogas Pvt. Ltd. and the government of Andhra Pradesh for setting up a LNG regassification terminal. Petrogas will commit a direct investment of Rs. 3,000 crore at Krishnapatnam, in the fields of LNG regassification terminal and allied industries.

Petrogas which a joint venture of Isomeric Holdings Sdn Berhad and Vijayawada-based LEPL Ventures Private Limited .

The LNG Terminal will use a floating storage and regasification unit (FSRU) with a minimum capacity of 5 million tonnes per annum (mtpa) which shall be doubled to 10 million MT in another three years time.

The commercial operations for the project will commence within three years.