Shanghai-based Wison Offshore & Marine has signed an agreement with Indian-owned Vessel Gasification Solutions (VGS) of New Jersey to build and supply a floating liquefied natural gas (LNG) regasification unit that will be installed offshore the Indian state of Andhra Pradesh.
The company will supply the barge-based unit for LNG regasification and will take up the turnkey engineering, procurement, construction, installation and commissioning (EPCIC) tasks of the unit, while leading the project, under the terms of the agreement.
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Said to be owned by VGS, the floating regasification unit (FRU) will perform regasification with the help of a newbuild, non-propelled barge.
A maximum of 1,000 million standard cubic feet of gas will be released by the FRU to the eastern coast market of India.
The facility would be placed on a jetty structure which is located about 8km offshore Andhra Pradesh to the northeast of the Kakinada Anchorage Port (KAP), and alongside a permanent floating storage unit (FSU).
For trading tanker, the FSU will be used as the LNG offloading point.
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By GlobalDataFor the future expansion of the regasification capability, the FRU would be sized sufficiently by an additional 750 million standard cubic feet per day of gas within the next few years.
By sizing the FRU, the growing natural gas requirements in the region can be met.
VGS president Gaurav Tiwari said: "With the execution of this agreement, Wison has allowed VGS to significantly increase the first-mover advantage we have established on India’s east coast."
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