Fox Petroleum proposes to setup a Floating Storage Regasification Unit (FSRU) LNG Terminal

Fox Petroleum Limited, India’s leading young and innovative energy company has proposed Government of Karnataka to set up a Floating Storage Regasification Unit (FSRU) LNG Terminal.  The Offshore Terminal has to process 1 billion cubic feet (bcf) of gas per day and a storage capacity of 330,000 m3 of LNG Onshore and same capacity offshore to cater the energy need of the State of the Karnataka. Mr. Ajay Kumar, Chairman and Managing Director of Fox Petroleum Limited gave a detail oriented presentation to Hon. Shri. K. Siddaramaiah, Hon'ble Chief Minister, Government of the Karnataka today at Krishna, the home office of Hon'ble Chief Minister at Bangalore.

During his presentation, Mr. Ajay Kumar, Chairman & Managing Director of Fox Petroleum Limited shared a comprehensive analysis of opportunity and challenges of setting up the innovative project and explained how it can contribute to energy need of the state. He said, “The world’s energy demand is growing far more rapidly than the energy industry can supply, so alternative resources are being investigated by the energy industry to address the deficit in energy production. Liquefied natural gas (LNG) is one of the alternatives being explored. Recent advancements in technology have given energy companies the ability to transport and deliver LNG long distances, and because of the impending energy shortage, federal regulatory agencies have relaxed the constraints that have been imposed in recent years on granting offshore construction permits in relation to LNG terminals.”

“These terminals will help in the delivery of LNG to onshore locations via an infrastructure of sub-sea pipelines. Six members of Fox Consultancy Services ( one of Fox Petroleum group companies) engineers of senior class were tasked to provide a front-end engineering analysis for a Floating Storage and Regasification Unit (FSRU) which is proposed located in the India Coastal region off the coast of Arabian Sea.” Mr. Kumar added.

For successful commissioning of the project, the terminal has to satisfy regulations as set forth by the Government of The Karnataka & Government of India, and other statutory and regulatory body of Government of India, as well as design constraints imposed by concerning operational expectations. Such constraints consisted of the following:

• Will be permanently moored in 40 m of water
• Must be able to process 1 billion cubic feet (bcf) of gas per day
• Must have a storage capacity of 330,000 m3 of LNG
• Must maintain a constant draft condition while loading or offloading
• Must sustain offloading operations in a 1-year storm event
• Must sustain shoreline delivery of LNG in a 10-year storm event
• Must survive a 100-year storm event

Fox Petroleum has also arranged all required technical and financial requirements for the project including funding the project by its own capacity. Once installed the project, there will be enormous opportunity for boosting local economy in Karnataka in terms of Employment opportunities, township development for the staffs and health and hygiene facilities. It will also develop state GDP by 10 % Aprx.