India's H-Energy, a natural gas company, said late on Wednesday it had signed a memorandum of understanding (MoU) with Bangladesh's state-run Petrobangla for the supply of re-gasified liquefied natural gas (LNG).
It added that both firms will finalise a long-term supply agreement to start the supply of LNG to Bangladesh through a cross-border natural gas pipeline.
H-Energy said it has been authorised by the Petroleum and Natural Gas Regulatory Board (PNGRB), a regulatory body in India, to build, own and operate the pipeline.
The Kanai Chhata-Shrirampur natural gas pipeline will connect H-Energy's LNG terminal in West Bengal, passing through various regions of the state and connecting to the Bangladesh border, it added.
H-Energy said its wholly owned subsidiary HE Marketing private will be responsible for sourcing LNG and for supplying R-LNG to Petrobangla.
The company added that it will commission its floating storage and regasification unit (FSRU) at the Jaigarh port in Maharashtra in July, this year. The terminal, which has been delayed on several occasions, is planned to be capable of handing four million tonnes per year.
H-Energy is also constructing LNG re-gasification terminals on the east coast of India at Kakinada, Andhra Pradesh and at Kukrahati, West Bengal.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU