H-Energy Private Limited and Korea Gas Corporation Limited, SK Shipping, Fairwood Peninsula Energy and Korea Development Bank, have recently entered into a landmark MOU. This MoU envisages the participation of four large entities, in the FSRU and pipeline projects of H-Energy Private Limited in the East Coast and the West Coast of India through equity investments coupled with joint management in the areas of project execution, operations and maintenance and skill development.
On the East Coast of India H-Energy Pvt. Ltd has made significant progress in setting up a Floating Storage and Regasification Unit (FSRU) in the offshore Digha region of West Bengal which will be connected to the onshore receiving facility by a 115 km subsea pipeline. In parallel H-Energy Pvt. Ltd plans to lay a 715 km Natural Gas pipeline originating in Contai in West Bengal. This pipeline is intended to service a number of customers in West Bengal, Odisha as well as to gas based power projects in Western Bangladesh. The point of delivery of Natural Gas will be near Dattapulia at the India-Bangladesh border.
The cumulative capability of Korea Gas Corporation Limited, SK Shipping, Fairwood Peninsula Energy and Korea Development Bank is immense. The Korea Development Bank is owned by the Government of Republic of Korea and plays a major role in providing project finance to projects in the Asia Pacific region.