HPCL announced on Friday that it has signed the MoU to strengthen access to
regasification infrastructure and deepen market-based participation in India’s natural gas
ecosystem.
Under the collaboration, IGX will develop a digital, market-driven platform to facilitate
transparent booking of regasification services at HPCL’s Chhara LNG terminal, according to the LNG terminal operator.
Moreover, HPCL noted that it will offer its storage and regasification capacities for booking in pre-specified quantities and durations through this platform.
“The initiative is aimed at improving infrastructure utilization, widening participation, and supporting the evolution of a more liquid, competitive, and efficient gas market in India,” HPCL said.
Last year, HPCL launched commercial operations at its 5 mtpa Chhara LNG import terminal.
The Chhara LNG terminal is India’s eighth LNG import facility.
It features a 1.2 km long jetty capable of receiving carriers with a capacity of 80,000 cbm to 266,000 cbm, and two LNG storage tanks each with a capacity of 200,000 cbm.
PPAC’s latest data shows that during April-November last year, the Chhara LNG terminal operated at 5.6 percent capacity.
Earlier this month, HPCL signed a long-term sales and purchase agreement with Adnoc’s gas and LNG unit, Adnoc Gas.
Under the SPA, HPCL will receive 0.5 million tonnes per annum (mtpa) at its Chhara LNG import terminal.
