Hiranandani Group promoted H-Energy Global Ltd. (H-Energy) has signed an memorandum of understanding (MoU) with Russia’s Novatek for cooperation in liquified natural gas (LNG ) supplies to India on a long-term basis, joint investment in LNG terminals of H-Energy and LNG projects of Novatek.
The MoU, signed during the Eastern Economic Forum held in Vladivostok on Wednesday, also envisages establishing a joint venture to market LNG and natural gas from Novatek’s portfolio to end-customers in India, Bangladesh and other markets.
“H-Energy and Novatek will endeavour to work together in future LNG projects, mid-stream assets like LNG reloading and re-gasification terminals, cross-country pipelines and small scale LNG and L-CNG infrastructure,” said a company statement.
Darshan Hiranandani, CEO, H-Energy, said “H-Energy is excited to partner with Novatek in Arctic LNG 2, to participate in and bring supplies to downstream customers in India and Bangladesh through its terminals in Jaigarh, Kakinada, Haldia and its two pipelines Jaigarh to Mangalore and Kannai Chatta to Shrirampur ensuring safe, reliable and economic supply chain from gas field to burner tip.”
H-Energy is engaged in developing LNG re-gasification terminals, at Jaigarh on the West Coast and at Kakinada and Kukrahati on the East Coast of India.
The company is also involved in developing natural gas pipelines of more than 1000 km connecting its LNG re-gasification terminals to the downstream gas markets in India.
H-Energy will start the commercial operations of its FSRU-based LNG receiving terminal at the Jaigarh Port in Maharashtra by the end of 2019 along with a 60km natural gas pipeline to Dabhol.
The company is also developing re-gasification terminal at Kakinada in Andhra Pradesh which will also have LNG reloading and break bulk facilities. A small LNG carrier will supply LNG from Kakinada to LNG re-gasification terminal at Kukrahati in West Bengal.
