Crown LNG has signed a deal that could see liquefied natural gas (LNG) from its planned LNG import terminal in Kakinada, India, listed, marketed, and sold on the India Gas Exchange (IGX).
A signed non-binding Memorandum of Understanding (MoU) between the LNG specialist and the IGX will provide a framework for LNG cargoes travelling through Crown’s regasification terminal to be on the IGX.
The proposed LNG important terminal is expected to have a capacity of around 7.2 million tonnes per annum. Crown expects to achieve final investment decision for the project in 2026 and to deliver first gas in 2029.
Swapan Kataria, CEO of Crown LNG, said the collaboration offers a unique position to sell gas to a large base of producers, traders, and off-takers throughout India.
“We believe this agreement is the first of several that will address the lack of supply for the eastern cost of the fourth largest LNG importer in the world.”
“Together with IGC and our growing network of trusted local partners, we are excited to strengthen India’s energy security and to help make natural gas more accessible to industries and micro-enterprises across India.”
Crown LNG and IGX will also explore further areas of cooperation to accelerate India’s 15% gas-based economy target by 2030, as envisioned by Prime Minister Narendra Modi.
According to Wood Mackenzie, Indian LNG imports totalled a record 26 million tonnes per annum in 2024, accounting for more than half of the country’s gas consumption.
It further expects LNG demand to continue to grow in the coming years, exceeding 37 million tonnes per annum by 2030 and 88 million tonnes per annum by 2050, as India’s demand for gas rises while its domestic production shrink.
