Oil and Natural Gas Corporation Ltd. (ONGC), with its consortium partners Bharat Petroleum Corporation Ltd. (BPCL) and Japanese conglomerate Mitsui, plans to set up a Re-gasification LNG terminal at New Mangalore Port, reports said.
The consortium will carry out a feasibility study for a terminal of 2-3 MMTPA capacity, expandable to 5 MMTPA.
To formalize the intent, the ONGC-led consortium has signed a memorandum of understanding (MoU) with New Mangalore Port Trust (NMPT).
Post this MoU, feasibility studies on the project will be carried out, including technical, marine and environment dimensions. The consortium is eyeing a time-line of 2018 for commissioning.
Mangalore has a unique position vis-à-vis the future demand and supply matrix of LNG, the company said. From the demand side, Mangalore is a fast-growing industrial hub with presence of Mangalore Refinery & Petrochemicals Ltd. (MRPL), petrochemical complex ONGC Mangalore Petrochemicals Ltd. (OMPL) and Special Economic Zone Mangalore SEZ (MSEZ).
Additionally, Mangalore hosts an iron ore industry, fertilizer industry and their ancillary industrial units. Currently, these industries are using heavy liquid sources, such as fuel oil and naphtha for their energy and feedstock needs.
Considering the growing demand of energy coupled with increasing focus on environment, there is a strong case for environment-friendly LNG replacing these polluting fuels.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.