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India's H-Energy leases LNG import terminal, agrees supply

LONDON - Indian gas company H-Energy is to begin importing liquefied natural gas (LNG) from the third quarter of 2018 via a ship-based terminal leased from French group Engie, its chief executive told Reuters on Monday. India is the world's fourth biggest LNG importer even though gas accounts for just seven percent of its coal-dominated energy mix, but consumption is growing fast in response to cheap LNG prices as new cities and industry get added to the grid.


The government aims to more than double LNG import capacity to 50 million tonnes per year and grow gas's share in the energy mix to 15 percent by late 2020. Under the deal with Engie, H-Energy will be able to import up to 4 million tonnes a year (mta) of LNG from late next year once the terminal, dubbed GDF Suez Cape Ann, is in place, CEO Darshan Hiranandani said. The charter term will run for at least five years.

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