Indian Oil Corp. (IOC), the country’s top refiner, plans to double the capacity of its liquefied natural gas (LNG) import terminal at Ennore in southern India.

According to Sandeep Jain, the company’s executive director for gas business, the expansion will increase the terminal’s capacity to 10 million metric tons per year (tpy) in response to the growing demand for gas in the country.

This move comes as India aims to increase the share of gas in its energy mix to 15% by 2030, up from the current 6.2%, as part of its efforts to reduce emissions.

Jain mentioned that IOC is looking to increase local sales of gas to 20 million tpy  by 2030, a significant increase from the current 6.3 million tpy.

Apart from the Ennore terminal, IOC has also leased capacity in at least two local projects operated by other companies to import gas.

Jain emphasized the need for India to sign more long-term LNG import contracts in order to ensure price stability.

Notably, IOC has recently signed two agreements for 14-year LNG import contracts worth $11 billion.