Taking a step further in strengthening Andhra Pradesh in the energy sector, the Andhra Pradesh government today signed two MoUs for setting up a floating LNG Terminal at Kakinada Deep Water Port in Andhra Pradesh.
The first MOU is the Terminal Company Agreement between APGDC, GDF SUEZ and Shell. It supports the development/execution of the terminal. APGDC (a JV company between the Government of AP and GAIL), GDF SUEZ and Shell will have 48%, 26% and 26% equity in the project respectively.
The second MOU is the Trading Company Agreement between GAIL, GDF SUEZ and Shell and covers both the sourcing of LNG and the marketing of the regasified LNG from the terminal. GAIL, GDF SUEZ and Shell will have 48%, 26% and 26% equity in the project respectively.
The MoU signing took place in presence of the Chief Minister N Chandrababu Naidu and CMD of GAIL B.C. Tripathi, CEO of GDF Suez Philip Olivier, Anindya Chowdhury of Shell India and other executives from the companies.
Speaking on the occasion, Chandrababu Naidu said: “I’m fully committed to the project and am sure that these domestic and international partners who have come together, will bring the best expertise, technology and speediness from all over the world to complete the project within 18 months.” He described the LNG terminal as a great opportunity in the development of a project that shall ensure continuous availability of Natural gas and support the government’s gas grid which is one of the five grids.
Ministers N. Chinarajappa, Kamineni Srinivas and others were present at the ceremony.(NSS)
AP Govt Signs Two Mous To Strengthen Energy Sector
