Mangalore Refinery and Petrochemicals Limited has signed a Memorandum of Understanding (MoU) with New Mangalore Port Trust (NMPT) to build an LNG regasification terminal at the Indian port.
Under the MoU, the two parties will carry out a feasibility study, and other associated analyses to identify the most suitable location for the facility.
Once set up, the terminal will bring gas and cleaner energy to the region, which Mangalore Refinery and Petrochemicals says will be a major advantage to industries currently using naphtha as fuel.
New Mangalore Port Trust is an all-weather port located on the West Coast of India. Over the years, the port has grown considerably, handling 39.4 million tonnes during 2013-14.
The major commodities exported through the port are iron ore, POL products, granit, containerised cargo, with major imports including cruse and POL products, LPG, coal, limestone, timber and containerised cargo, among others.