Mumbai: India based H-Energy has inked an option agreement with the Canadian province of Nova Scotia to set up a natural gas liquefaction unit and export terminal in the province. “Option on a site on the Strait of Canso would give the privately owned company exclusive rights to buy the site if feasibility studies prove satisfactory,” said Darshan Hiranandani, Director, H-Energy.
Hiranandani said it would take two or three years to get to the point of starting construction on the site.
Energy demand is on the rise in India’s nearly $2 trillion economy, with stagnant domestic output encouraging companies to ramp up efforts to import oil and gas.
H-Energy, which is part of the Hiranandani Group, one of India’s largest privately-held property developers, is also building an LNG import facility on the west coast of India.
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