National Gas Oman partners with Petredec for India terminal project
Wednesday 18/September/2019 16:57 PM
By: Times News Service
Muscat: National Gas Company, Oman, has signed a partnership agreement with Petredec, global LPG and other fuels trading & shipping conglomerate to partner in its Indian subsidiary for setting up a large refrigerated LPG import and storage facility in the southeastern part of India.
This project is in line with National Gas Company’s vision to expand its footprint into newer geographies. With India’s burgeoning LPG demand and India being a net LPG importing country, this project aims to bring credible LPG infrastructure easing the strain on similar LPG storage facilities in the region thereby enhancing supply feasibility in the southeastern states of India. The proposed facility is being set up at Krishnapatnam port, 180km north of the southern Indian city of Chennai. This port is the largest in India by area and is well connected by air, rail and road channels. This is a state of the art, all-weather, deep-draft port strategically located near the largest LPG consuming markets in South India.
India is a strategic market considering the government’s impetus on promoting LPG usage and reducing the use of hazardous cooking fuels like charcoal, firewood etc.
"The growth in LPG demand in India would require 1 such storage facility every year to be constructed and National Gas sees the partnership with Petredec as an opportunity to not only expand together within India beyond the current project but even into newer geographies, said Abdulla Al Harthy, Chairman, National Gas Company."