Abu Dhabi’s National Marine Dredging Company (NMDC) said it has been awarded a $316m engineering, procurement, and construction (EPC) contract for a hi-tech floating liquefied natural gas (LNG) port at Jafrabad in the Indian state of Gujarat, Trade Arabia reported.
NMDC’s Chairman, Mohamed Thani Murshed Al Rumaithi, said that the terminal will be completed in 2019, and will be designed and built in partnership with Indian company Swan Energy, Arabian Business informed.
Additionally, Swan LNG Private Limited (SLPL) is developing the country’s first all-weather floating storage and regasification unit (FSRU)-based LNG import terminal in Gujarat at an estimated cost of $800m. On completion, it will have an initial capacity of 5mt/y expandable up to 20mt/y.
The Gujarat LNG terminal project is part of the company’s strategy to enter the international market by taking on external projects. The project comes as the UAE and India plan to increase bilateral trade by 60% over the next five years. The two countries will conduct studies to come up with action plans by the middle of 2017 to ensure the boost to trade by 2022.