AG&P (Atlantic, Gulf and Pacific Company), the Philippines-based company, has signed an exclusivity with Karaikal Port Pvt. (KPPL), to develop an LNG import terminal at the Port, including LNG sourcing and supply.
The Karaikal Port is a deep-water facility located on the east coast of India. As part of the Port’s expansion it has allocated an area within its existing breakwater to develop an LNG terminal to serve power, industrial and other customers in the region.
AG&P has signed an exclusive deal with PPN Power to supply LNG.
“Karaikal Port is a center of trading for Southeast India and is crucial to the region’s GDP. With the addition of AG&P’s LNG import terminal, Karaikal Port will continue to be an engine of growth for the region’s future. Offering an all-weather operation with a breakwater ensuring 99 per cent availability, night navigation, limited dredging requirements, proximity to GAIL’s existing Cauvery Basin gas pipeline network and 24/7 access to port services, we are immensely proud of the Port’s facilities that attracted AG&P to this prime site,” said GRK Reddy, chairman and Promoter director of KPPL.
The development of AG&P’s LNG import terminal at Karaikal Port shall complement Indian Oil’s under construction LNG terminal at Ennore 300 kilometers to the north and will provide wider gas accessibility to Puducherry and Tamil Nadu.
GRK Reddy added: "“AG&P’s coming Karaikal LNG terminal is a landmark development that will accelerate industrialisation, create jobs, trigger overall economic and social development and lead to much needed cleaner air. It will improve the quality of life for millions of Indians."
“AG&P’s innovative approach will establish Karaikal as a major gateway for distributing LNG, CNG and gas quickly and efficiently to customers throughout the region. Leveraging its standardized designs and modular approach to building terminals developed in AG&P’s Houston, Texas Engineering Center, AG&P not only eliminates expensive, bespoke engineering costs, but significantly reduces construction time. This means the terminal will be up and running by mid-2019,” Karthik Sathyamoorthy, president, LNG Marketing, AG&P.