| Code: 97818 |

TIN news:   The Krishna Godavari LNG Terminal has secured in-principle nod for the setting up of a Rs. 5,000-crore floating LNG terminal with a capacity of 7.2 MMTPA over two phases in the offshore of Kakinada Deep Water Port, Kakinada, Andhra Pradesh.
Ajay Jain, Principal Secretary, State Energy, Infrastructure and Investment Department, has issued orders to facilitate the setting up of the $750-million project, with phase I entailing an outlay of $550 million (Rs 3,685 crore) and phase II $200 million (Rs 1,350 crore).
KGLNG is a special purpose vehicle (SPV) created by Vessel Gasification Solutions Group Inc (VGS Group Inc), New Jersey, USA along with CAVELLO of Texas and EXMOR of Belgium to establish 7.2 MMTPA LNG terminal.
The Director of Ports had entered into a MoU with Krishna Godavari LNG Terminal at the CII Partnership Summit.
The Ministry of Environment and Forests had issued terms of reference on February 2016 and revalidated it in July 2016 up to December 1, 2016. A public hearing was conducted at Kakinada and that CRZ clearance is expected soon.
Following requests from the State Director of Ports, Kakinada, the Government, after consulting various departments, decided to accord in-principle approval to the project proposal laying certain conditions.
Kakinada Sea Ports Ltd shall obtain permission for the setting up of FSRU (floating storage re-gasification unit)pProject in open sea from the Navigational Safety in Ports Committee (NSPC) under the Ministry of Shipping, Mumbai
As the present project is beyond the scope of present concession agreement entered between the State and KSPL and the proposed project location falls outside the deep water port area, Kakinada Sea Ports shall obtain necessary amendment to the concession agreement for Government’s approval.
The developer shall obtain approval from the Government and protect the revenue share of the GoAP and to ensure that the revised master plan of Kakinada Port is consistent with the proposed project.
The project shall be in BOMST (Built, Operate and Maintain, Manage, Share and Transfer) model.
Further, Krishna Godavari LNG terminal shall obtain permission from the Government to lay the subsea pipelines of about 19 km from the point of LNG terminal to the land fall point as the proposed project intends to lay the pipeline on the sea bed.

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