TUTICORIN: Indian Oil Corp (IOC), the nation’s biggest oil firm, has said it will commission its first liquefied natural gas (LNG) import terminal at Ennore in Tamil Nadu this month.
IOC Chairman Sanjiv Singh said the Rs 5,151-crore terminal is complete and would be commissioned after completion of dredging of the channel that will bring cryogenic ships carrying natural gas in its liquid form to the port.
“We hope to commission the facility this month,” he said here.
Once dredging is complete, IOC will bring a cargo or shipload of LNG to commission the terminal.
This is the first LNG import terminal IOC has built on its own. The company holds 12.5 per cent stake in Petronet LNG Ltd, which operates import facilities at Dahej in Gujarat and Kochi in Kerala. It has also booked capacities in upcoming terminals on both East and West coast. The dredging is being carried out by Ennore Port Trust. IOC holds 95 per cent stake in the Ennore LNG import terminal. Tamil Nadu Industrial Development Corporation (TIDCO) has 5 per cent.
In August last year, the IOC board had given in-principle approval to acquire up to 50 per cent stake in Adani Group-backed Mundra LNG import terminal in Gujarat for an estimated Rs 750 crore.