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Indian Oil Corporation is scouting for a third partner for the proposed LNG terminal at nearby Ennore with a project cost of Rs 4,320 crore, a top official said here today.
Indian Oil and Chennai Petroleum Corporation are setting up the 5 million tonnes per annum capacity terminal for the supply of regassified natural gas. CPCL and IOC have signed an agreement for the supply of LNG.
“For this project we are definitely looking for a partner. Right now we are talking to many companies who can become our partner”, the IOCL Chairman, Mr R.S. Butola, told reporters today after announcing the group company Chennai Petroleuem Corporation Ltd’s results.
Stating that the project was “well on course”, he said they have not taken any decision on identifying the partner.
“We have not taken any decision on it. But the project is currently on hand,” he said.
For the project, CPCL is gearing itself to receive natural gas for its heaters and boilers and also for its power plant and hydrogen generation units.
Mr Butola also clarified they are looking for a partner who has experience in setting up an LNG plant.
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