HPCL receives multiple bids for Leasing Chhara LNG Terminal
OIL & GAS

HPCL receives multiple bids for Leasing Chhara LNG Terminal

The Chief Executive of Hindustan Petroleum Corp (HPCL), K Sreenivasa Rao, announced that the company has received six or seven bids from various industries interested in leasing a portion of its Chhara liquefied natural gas (LNG) import terminal on India's west coast. HPCL aims to start operations at the terminal, which has a planned capacity of 5 million metric tons per year, in the December quarter. Rao mentioned that a decision on the awarding of the lease should be made within the next three months.

HPCL is seeking to lease a capacity of three million metric tons per year to other companies for a period exceeding 10 years, according to Rao. Although the terminal was completed in March, its commissioning has been delayed due to the unavailability of a 40-kilometer pipeline link to the existing sales network for consumers. However, Rao expressed optimism that the pipeline will be ready in the near future.

Rao explained that the terminal will operate at approximately 30 per cent capacity in 2024 and is expected to reach full capacity within four to five years. Additionally, HPCL has made provisions to potentially double the terminal's capacity to 10 million metric tons per year in the future.

India, under the leadership of Prime Minister Narendra Modi, is making efforts to strengthen its gas infrastructure with the aim of increasing the share of natural gas in its energy mix to 15 per cent by 2030, up from the current 6.5 per cent. Rao highlighted that India's gas demand is now increasing as prices have softened, following a previous spike that had dampened demand.

The Chief Executive of Hindustan Petroleum Corp (HPCL), K Sreenivasa Rao, announced that the company has received six or seven bids from various industries interested in leasing a portion of its Chhara liquefied natural gas (LNG) import terminal on India's west coast. HPCL aims to start operations at the terminal, which has a planned capacity of 5 million metric tons per year, in the December quarter. Rao mentioned that a decision on the awarding of the lease should be made within the next three months.HPCL is seeking to lease a capacity of three million metric tons per year to other companies for a period exceeding 10 years, according to Rao. Although the terminal was completed in March, its commissioning has been delayed due to the unavailability of a 40-kilometer pipeline link to the existing sales network for consumers. However, Rao expressed optimism that the pipeline will be ready in the near future.Rao explained that the terminal will operate at approximately 30 per cent capacity in 2024 and is expected to reach full capacity within four to five years. Additionally, HPCL has made provisions to potentially double the terminal's capacity to 10 million metric tons per year in the future.India, under the leadership of Prime Minister Narendra Modi, is making efforts to strengthen its gas infrastructure with the aim of increasing the share of natural gas in its energy mix to 15 per cent by 2030, up from the current 6.5 per cent. Rao highlighted that India's gas demand is now increasing as prices have softened, following a previous spike that had dampened demand.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement