Page 6 - AsianOil Week 15 2021

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India’s first FSRU arrives at Jaigarh terminal

PROJECTS & INDIA’S first floating storage and regasification The project is one of several LNG import
COMPANIES unit (FSRU) has arrived in the country. The plans currently under development in India,
Höegh Giant sailed from Keppel Shipyard in Sin- which is on a push to increase the share of nat-
gapore, berthing at H-Energy’s Jaigarh terminal ural gas in its energy mix. The country has set
in Maharashtra on April 12. a goal of raising gas’ share of the energy mix to
The FSRU has a storage capacity of 170,000 15% by 2030, from around 6% currently, and
cubic metres and installed regasification capac- while there are concerns that it could struggle to
ity of 750mn cubic feet (21mn cubic metres) per meet this target, the news from H-Energy illus-
day, which is equivalent to about 6mn tonnes trates that progress is being made.
per year (tpy) of LNG. H-Energy noted in a Consultancy GlobalData said earlier this
statement that it had chartered the facility for a month that India was likely to see 647 new oil
10-year period. and gas projects start up between now and 2025,
From the Höegh Giant, regasified LNG accounting for 33% of the total project launches
will be delivered to the 56-km Jaigarh-Dab- across the Asia-Pacific region. Among these,
hol gas pipeline, which connects the LNG GlobalData anticipates 123 midstream project
terminal to the national gas grid. Addition- start-ups, with LNG schemes accounting for
ally, LNG delivered to the FSRU can be sent 14% of that number.
on to truck loading facilities for onshore The consultancy estimates the Jaigarh LNG
distribution, or to small-scale vessels for import project to cost around $274mn to build.
bunkering. The project’s looming start-up comes after sev-
Following the berthing of the Höegh Giant, eral delays. H-Energy has previously said that it
the LNG import terminal will soon be ready to expects the terminal to be predominantly used
begin testing and commissioning activities. for term supply, with occasional spot cargoes.™

OIL talks up NRL acquisition

FINANCE & STATE-RUN oil and gas developer Oil India Ltd Corporation Ltd’s (BPCL) 61.5% stake in NRL
INVESTMENT (OIL) has described its recent acquisition of a on March 25 for INR98.76bn ($1.32bn). The deal
controlling interest in Numaligarh Refinery Ltd saw OIL increase its stake in the downstream
(NRL) as key to both its commercial security and operator by 54.16% to 80.16%.
the country’s national security. Mishra said he expected the acquisition to
OIL chairman and managing director Sushil help diversify his company’s revenue, reduce
Chandra Mishra said on April 13 that his com- earnings volatility and enhance shareholder
pany’s more than 80% stake in the refinery would value.
help create a vertically integrated oil company Pointing to existing synergies between the
that was insulated from oil price spikes. two companies, Mishra said OIL already sup-
OIL, Engineers India and the Assam State plied 1mn cubic metres of its 7-8 mcm per day
government bought state-run Bharat Petroleum of gas production to NRL.

P6 www. NEWSBASE .com Week 15 15•April•2021