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H-Energy signs port service agreement with Kakinada Seaports Ltd

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LNG Industry,

H-Energy has, through its wholly owned subsidiary East Coast Concessions Private Ltd (ECPL), signed a port service agreement (PSA) with Kakinada Seaports Ltd (KSPL).

According to the statement, KSPL has the concession for Kakinada Deep Water Port from the Government of Andhra Pradesh. Under the PSA, H-Energy will develop an LNG regasification and reloading terminal at Kakinada port.

H-Energy claims that it will develop an LNG hub at the Kakinada Port, meeting the requirements of domestic customers in the state of Andhra Pradesh. The company will also supply LNG through small LNG vessels to its upcoming Kukrahati LNG terminal in the state of West Bengal, and neighbouring countries such as Bangladesh and Myanmar.

Darshan Hiranandani, CEO of H-Energy, said: “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.”

H-Energy claims the PSA, along with its associated agreements, envisages long-term cooperation between the two organisations, contributing towards India’s growth story, especially the vision of the Government to promote a gas-based clean economy.

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