News track on Kakinada LNG terminal
- VGS-Cavallo JV is fast tracking its 3.6 million tonne floating LNG terminal off Kakinada coast, in Andhra Pradesh.The Rs 2,670 crore project is being implemented by Krishna Godavari LNG Terminal, a JV between VGS Group, Cavallo Energy of the US, and Belgium’s Exmar. The company intends to commence construction activity by November 2014 and commission the plant by July 2015. Meanwhile, the Shapoorji Pallonji group is in talks with the VGS Group to buy 13-17 per cent stake in the project.
- The Andhra Pradesh government has decided to induct Shell in the SPV formed for setting up a floating, storage and re-gasification (FSRU) based liquefied natural gas terminal in Kakinada. The state government approved the proposal after taking the opinion of the solicitor general of India, and recommendations of the committee of secretaries constituted for the purpose.Shell gas is likely to have 26 per cent equity holding in the SPV. In 2013, the SPV was formed between Andhra Pradesh Gas Distribution Corporation (APGDC) and GDF Suez LNG for the Rs 3,600 crore project. An MoU was signed in May 2013 between Kakinada Seaports and APGDC, a joint venture of Gail Gas and APGDC for the project. The proposed LNG terminal will be set up in two phases and it will have a capacity of 3.5 million tpa and will go up to five million tpa when the land terminal is ready.
News track on Gangavaram LNG terminal
Petronet LNG is likely to commence work on its LNG terminal at Gangavaram, in Andhra Pradesh, in the second half of 2014. The project, with 10 million tpa capacity, has received all the necessary clearances to start construction work. The company intends to commence work by December 2014, after it completes the process of awarding the work contract. The project entails an investment of Rs 4,500 crore. In 2012, the company had signed an agreement with Gangavaram Port for development of the project. Besides, Petronet is in the process of building another terminal at Kochi in Kerala, which will have a capacity of five million tpa, equivalent to 20 million standard cu mtr per day