EXMAR has entered into a binding Term Sheet with Swan Energy Limited (Swan) for the joint development and operation of the Jafrabad LNG Port project, to be located in the State of Gujarat, India. The Jafrabad LNG Port will be a 5 million tons per annum (MTPA) LNG receiving terminal, with one jetty-moored Floating, Storage and Regasification Unit (FSRU). The two partners have the firm intention to expand the terminal to 10 MTPA, through the deployment of a second FSRU.
Swan secured all necessary permitting for the project and the concession agreement is ready for execution. The parties are in negotiation with EPC contractors for the breakwater, jetties, topsides and onshore receiving facilities. Heads of Agreements are in place for an initial 4.5 MTPA regasification capacity, over a period of 20 years. Detailed negotiations are in progress with the four users: Indian Oil Corporation Limited (IOCL), Oil and Natural Gas Corporation Limited (ONGC), Bharat Petroleum Corporation Limited (BPCL) and the Gujarat State Petroleum Corporation Limited (GSPCL). EXMAR will contribute its vast experience in floating LNG solutions into the integrated project management team and will participate as equity partner in the LNG receiving terminal.