Vasudeva in Houston to source LNG

Vol 16, PW 19 (18 Apr 13) News in Brief

ONGC bosses led by chairman Sudhir Vasudeva and director human resources KS Jamestin are attending a LNG conference in Houston, trying to source LNG for a proposed 2.5m t/y LNG terminal at Mangalore in Karnataka.

Vasudeva and his team left Delhi on April 14 to attend the four-day conference 'LNG 17', which ends on April 19. “We have fixed many appointments with US-based companies to talk about LNG sourcing,” says an ONGC official.

"We can meet many LNG suppliers under one roof." ONGC believes LNG imports are the future as oil ministry projections say India’s gas demand will hit 290m cm/d by 2015-16, while the availability of domestic gas will rise only to 160m cm/d.

ONGC and partners Bharat Petroleum and Japan-based Mitsui signed a MoU with the New Mangalore Port Trust on March 19 to set up a $750m LNG terminal. ONGC and BPCL will take an investment decision by early 2014.

The consortium aims to commission the terminal by 2018.