Singapore-based Atlantic Gulf and Pacific (AG&P), one of the global leaders in running LNG (liquefied natural gas) and gas logistics and distribution solutions, will invest around $1.5 billion in south India on various projects.
On Thursday, Puducherry chief minister V Narayanaswamy performed the ground-breaking ceremony for the LNG import facility at Karaikal port. The facility is expected to commence commercial operations by the fourth quarter of 2021.
Speaking at the ceremony J M Sigelman, CEO of AG&P said, the $1.5 billion investment will be made over a decade towards the LNG terminal and city gas distribution network.
LNG will be exported from countries like the US, Oman and Qatar. Karaikal LNG will serve the city gas networks of AG&P, and other city gas companies. AG&P has city gas distribution license for Kanchipuram and Ramanathapuram districts of Tamil Nadu.
The Karaikal LNG import facility is being built on a 12-hectare site with an initial capacity of 1 million tonnes per annum (mtpa), and can be increased to 6 mtpa in a phased manner.