“H-Energy” inks MoU with PAO NOVATEK in Vladivostok

Agency News

Kolkata, Sep 06 : H-Energy Global Ltd ("H-ENERGY") today signed a Memorandum of Understanding with PAO NOVATEK during the Eastern Economic Forum in Vladivostok, Russia, according to information received here.

The MoU envisages cooperation in LNG supplies to India on a long-term basis, joint investment in LNG terminals of H-Energy and LNG projects of NOVATEK, as well as establishing a joint venture to market LNG and natural gas from NOVATEK’s portfolio to end-customers in India, Bangladesh and other markets.

H-Energy and NOVATEK will endeavour to work together in the future LNG projects,midstream assets like LNG reloading and regasification terminals, cross-country pipelines, and small scale LNG and L-CNG infrastructure.

Mr. Darshan Hiranandani, CEO of H-Energy was quoted as saying, “H-Energy is excited to partner with NOVATEK in Arctic LNG 2, to participate in and bring supplies to the downstream customers in India and Bangladesh through its terminals in Jaigarh, Kakinada, Haldia and its two pipelines Jaigarh to Mangalore and Kannai Chatta to Shrirampur ensuring safe, reliable and economic supply chain from gas field to burner tip.”

"H-Energy” is engaged in developing LNG regasification terminals, at Jaigarh on the West Coast and at Kakinada and Kukrahati on the East Coast of India. The company is also involved in developing Natural Gas pipelines of more than 1000 km connecting its LNG regasification terminals to the downstream gas markets in India, a company statement issued here said.

H-Energy will start the commercial operation of its FSRU based LNG receiving terminal at the Jaigarh port in Maharashtra by end of 2019 along with a 60km Natural Gas pipeline to Dabhol. It is developing re-gasification terminal at Kakinada in Andhra Pradesh which will also have LNG reloading and break bulk facilities, small LNG carrier will supply LNG from Kakinada to LNG regasification terminal at Kukrahati in West Bengal.

The company is also taking forward a 635 km Natural Gas pipeline from Jaigarh to Mangalore which will connect to gas customers in Maharashtra and Karnataka and a 242 km Natural Gas pipeline from Kanai Chhata to Shrirampur (at India-Bangladesh border) which will supply regasified LNG to customers in West Bengal and Bangladesh. H-Energy has been solely authorized by the Petroleum and Natural Gas Regulatory Board of India to develop the India – Bangladesh natural gas pipeline.

H-Energy is further involved in sourcing of LNG from international market and will supply regasified LNG to downstream customers in India and Bangladesh, providing end-to-end gas solutions to downstream customers. (UNI)