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India's H-Energy leases LNG import terminal

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LNG Industry,

Reuters are reporting that Indian gas company H-Energy is to begin importing LNG from Q3 2018 via a ship-based terminal leased from French group Engie.

India is the world's fourth biggest LNG importer. Consumption is growing fast in response to cheap LNG prices as new cities and industry get added to the grid.

The government aims to more than double LNG import capacity to 50 million tpy and grow gas's share in the energy mix to 15% by late 2020.

Under the deal with Engie, H-Energy will be able to import up to 4 million tpy of LNG from late next year once the terminal is in place.

The charter term will run for at least five years.

The FSRU will be berthed at India's west coast port of Jaigarh, also the starting point for a 635 km coastal pipeline H-Energy is building to open up new gas markets.

The FSRU will convert LNG shipped from multiple suppliers back into gas, before transferring it onshore.

FSRUs are cheaper and quicker to build than land-based LNG receiving terminals, fostering quick take-up among gas-starved countries seeking to ramp up deliveries, including Pakistan and Egypt.

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