Odisha to become a hub of Natural Gas business soon
A pact to establish a mega LNG terminal was inked between the State owned GAIL and Paradeep Port. With the realization of this project, Odisha will soon be highlighted on the world map of natural gas business.
Under this project, GAIL will set up the terminal – Floating Storage Regasification Unit at a cost of over Rs 3100 crore.
The gas terminal will have an initial capacity of 4 million tonne per annum in first phase. The storage capacity of the unit will be 170,000 cubic metres. In the second phase, 4 million ton capacity will be added enhancing its capacity to 4.8 million tons. It will be operational by 2017.
Globally, India is currently the 4th largest consumer of natural gas.The share of natural gas in the country’s primary energy market is projected to reach 22% by 2020 and 25% by 2035. The setting up of the terminal is expected to promote industrial development, job creation and economic upliftment of the nation.