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AG&P (Atlantic, Gulf and Pacific Company), and Hindustan LNG (HLNG), a Hyderabad-based LNG import terminal development company, have signed a memorandum of understanding (MoU) to supply tolled gas to power stations in the East Godavari region of Andhra Pradesh.
AG&P is a leading global integrator of LNG infrastructure solutions, including LNG terminals and related supply chains.
Under the agreement, AG&P will provide an integrated solution to deliver regasified LNG through a new LNG import terminal that it will design and build at a port in Andhra Pradesh.
The MoU would pave way for a fully integrated solution for tolled gas in India, including design, construction, financing, operations and maintenance of the new terminal, which will ensure a reliable and low-cost supply to power producers, fertiliser plants, cold storage and other industries in Andhra Pradesh and other markets along the east coast.
C R Prasad, Chairman of HLNG, said: “Andhra Pradesh is the ideal place for developing an LNG import facility to serve the growing energy demands of the East Coast of India where existing gas-fired power projects urgently need a reliable supply of LNG. The partnership with AG&P will provide a strong platform to develop a fast-track and low-cost LNG import solution that enables the region to continue on its growth trajectory.”
AG&P will be responsible for designing and building all the required facilities for the import terminal, including a floating storage and mooring system, regasification terminal, related utilities and the provision of tolled gas to power plants and other users. It will also carry out any necessary conversion works and, upon commissioning, ongoing operations and maintenance activities.
“It is a great privilege for AG&P to help implement India’s vision for clean, low-cost, flexible and reliable power. Andhra Pradesh is playing a critical role in manufacturing and trade. We see the provision of tolled gas to supply power and fuel to factories, homes and even transport in an environmentally clean way as crucial elements of Andhra Pradesh’s future,” said Jose P. Leviste, Jr., Chairman of AG&P.
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