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M. Ramesh

Chennai May 12 The Ennore LPG import terminal project of Indian Oil Corporation is set to become a reality soon.

"The project will be taken up at the coming board meeting," IOC's Chairman and Managing Director, Mr Sarthak Behuria, told Business Line on Friday.

IOC's next board meeting is scheduled to take place towards the end of this month.

The project is to create a terminal that will import and store 6,00,000 tonnes per year of LPG at Ennore, 25 km north of Chennai.

The project is to be executed by a (equal) joint venture of IOC and Petronas of Malaysia. IOC may invest between Rs 250 crore and Rs 300 crore in the project, Mr Behuria said.

LNG supply

Answering a question, he said that he was hopeful of firming up supply of liquefied natural gas (LNG) for the proposed Ennore LNG terminal and re-gassification project.

LNG for the project was to come from the South Pars gas field in Iran, but because of protracted negotiations over the pricing of LNG, neither the liquefaction project at South Pars nor the project at Ennore have materialised.

However, Mr Behuria said that LNG for the Ennore project need not necessarily come from South Pars. "We are talking to many people," he said.

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