H-Energy signs agreement with Kakinada Seaports

H-Energy signs agreement with Kakinada Seaports

Agency News

Kolkata, Sep 9 : H-Energy through its wholly owned subsidiary East Coast Concessions Private Ltd (“ECPL”) and Kakinada Seaports Limited (“KSPL”), signed a Port Service Agreement (PSA) at Hyderabad on Friday, according to a report received here on Monday.

KSPL has the concession for Kakinada Deep Water Port from Government of Andhra Pradesh. Under the PSA, H-Energy will develop an LNG regasification and reloading terminal at Kakinada port. H-Energy would develop a LNG hub at the Kakinada Port catering to the needs of domestic customers in Andhra Pradesh and supply LNG through small LNG vessels to H-energy’s upcoming Kukrahati LNG terminal in West Bengal and neighbouring countries like Bangladesh, Myanmar, the report said.

Mr. Darshan Hiranandani, CEO of H-Energy, confirmed, “H-Energy is excited to partner with Kakinada Seaports for our East coast project. We believe that Kakinada with its existing breakwater and deep draft combined with its close proximity to various natural gas pipeline makes this an efficient and successful project for our customers, our partners, and ourselves."

The PSA along with its associated agreements envisages a long term association between the two organizations contributing towards India's growth story, especially, the vision of the Government to promote a gas based clean economy. 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. It 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 60 km Natural Gas pipeline to Dabhol.

The company 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. H-Energy 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.

The report said 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)