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Exmar clinches FSRU deal in India

Exmar clinches FSRU deal in India
Exmar has entered into a binding Term Sheet with Swan Energy (Swan) for the joint development and operation of the Jafrabad LNG Port in Gujarat, India.

The terminal will have a 5 m tonnes-per-annum (mtpa) LNG receiving capacity, with Exmar contributing a Floating, Storage and Regasification Unit (FSRU) moored alongside. Heads of Agreements are in place for an initial 4.5 mtpa regasification capacity, over a period of 20 years.

The two companies intend to increase the capacity to 10 mtpa through deployment of a second FSRU.

Nicolas Saverys, Exmar ceo said: “We are honored to be selected for the development of what will be India’s first FSRU-based LNG receiving terminal. We were especially attracted by the steady progress made by Swan and its portfolio of bankable governmental counterparts. With an increasing demand for clean energy, Exmar is committed to deploy more FSRU’s in India, as a fast-track and competitive solution.”