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Petronet LNG's FSRU project gets FID approval

11/15/2022

Petronet LNG has approved plans for a 4.0m t/y floating storage regasification vessel in Ganjam District, Odisha. The FSRU based project could be converted to a land-based option in the future.

Project will cost 23 billion rupees or USD 247 million and should be operational by the end of 2025. Financing will be made from equity and debt. FID was taken in November 2022.

The project will be the companies fourth LNG facility in India and Petronet's first on the east coast of India. The shareholders of Petronet LNG include Gail (12.5%), Indian Oil (12.5%), Bharat Petroleum (12.5%), ONGC (12.5%) and the remaining 50% by the public sector.

Petronet LNG has not stated how the LNG will be transported throughout Odisha and the rest of India