New Delhi [India], June 12 (ANI): H-Energy Gateway Private Ltd. on Monday announced signing of an Agreement with Engiefor chartering its Floating Storage Re-gasification Unit (FSRU) GDF SUEZ Cape Ann.

The storage capacity of 145,000 m3 is equipped with re-gasification capacity to operate the project at approximately four million tons per annum. The FSRU is also capable of reloading LNG onto other LNG vessels.

The FSRU has been chartered by H-Energy for a period of five years and will arrive at the LNG jetty at Jaigarh port byQ32018. The companies have an option to extend the charter party agreement beyond the initial term on mutual agreement.

ENGIE is one of the leading LNG companies in the world and also has strong technical capabilities in the field.

Achieving two major milestones for its LNG re-gasification project at Jaigarh port in Maharashtra on the west coast of India,

“We value the relationship with ENGIE and are happy that a global LNG player like ENGIE is part of our FSRU project, we feel that both the companies will enhance their relationship further through various collaboration measures in future as well,” said CEO H-Energy, Darshan Hiranandani.

Adding to this Darshan Hiranandani said that there are final set of agreements that the company has to execute to ensure timely commercial operation of the project.

“We are extremely pleased by the progress of the project and will ensure that the project is completed as per its planned schedule and achieves its commercial operation by Q3 2018,” said Hiranandani.

The terminal is being developed in accordance with the highest Indian and international engineering and safety standards. H-Energy plans to commence commercial operations of the LNG facilities at Jaigarh, after completing the necessary topside facilities, in Q3 2018.

H-Energy through its gas marketing company is sourcing LNG and will supply re-gasified LNG to downstream customers providing end-to-end gas solutions to the downstream customers. (ANI)