|
VMPL
New Delhi [India], February 14: Crown LNG, a wholly owned subsidiary of Crown LNG Holdings Limited, and Indian Gas Exchange Limited (IGX), India's authorised natural gas trading platform, have signed a Memorandum of Understanding (MoU) to expand and enhance the natural gas ecosystem in Southern India. The MoU was signed by Swapan Kataria, CEO of Crown LNG, and Rajesh Kumar Mediratta, Managing Director & CEO of IGX, on the sidelines of India Energy Week 2025 in New Delhi. This strategic collaboration aims to create a more competitive, transparent, and efficient gas marketplace, making natural gas more accessible to industries and micro-enterprises. The partnership will facilitate the development of independent gas consumers, promote LNG distribution in rural and industrial regions, and enhance infrastructure utilisation for long-term energy security. Advancing India's Clean Energy Transition and Gas-Based Economy Crown LNG and IGX will work together to boost LNG adoption in Southern India, with Crown LNG's upcoming LNG regasification terminal at Kakinada Deepwater Port in Andhra Pradesh playing a pivotal role in meeting growing industrial and commercial gas demands. IGX will leverage its trading platform and network to improve demand-side participation and facilitate competitive trade, ensuring wider accessibility to clean energy solutions. Speaking on the occasion, Swapan Kataria, CEO, Crown LNG, highlighted the long-term vision: "With our LNG infrastructure and IGX's extensive market reach, we aim to ensure a steady supply of gas, encourage wider adoption, and drive India's clean energy transition. The Kakinada terminal will be a critical supply point, reducing transportation costs and enhancing regional energy security." Echoing this sentiment, Rajesh Kumar Mediratta, MD & CEO, IGX, emphasised the partnership's significance, stating:"This collaboration with Crown LNG strengthens gas accessibility in Southern India. Through our trading platform, we will enable industries and micro-entrepreneurs to access natural gas efficiently, supporting India's transition to a competitive gas-based economy." A Landmark Initiative for Infrastructure Development and Economic Growth This MoU also sets the stage for increased competition and efficiency in India's gas sector, driving optimal infrastructure utilisation and promoting affordable and accessible natural gas solutions. Both organizations will explore further areas of cooperation to accelerate India's 15% gas-based economy target by 2030, as envisioned by Prime Minister Narendra Modi. Under the agreement, IGX will drive market awareness through workshops and industry engagement initiatives, encouraging wider participation in gas trading. Crown LNG will collaborate closely with IGX on LNG cargo arrivals and sales, ensuring a stable and efficient supply chain. Together, they aim to unlock new opportunities in India's energy sector and reinforce the role of natural gas as a key driver of sustainable economic growth. About Crown LNG Crown LNG is a global leader in LNG infrastructure solutions, specialising in offshore LNG terminals and regasification facilities designed for year-round operations, even in harsh weather conditions. Crown LNG's upcoming Kakinada LNG terminal in Andhra Pradesh, developed using advanced Norwegian gravity-based technology, is expected to have a regasification capacity of 7.2 million metric tonnes per annum (MMtpa). This terminal will contribute significantly to India's energy security, employment generation, and foreign direct investment, with an estimated investment of $1.2 billion and thousands of jobs created across construction and operations. About Indian Gas Exchange (IGX) Indian Gas Exchange Limited (IGX) is India's first authorised natural gas trading exchange, providing a transparent, efficient, and competitive marketplace for spot and forward gas contracts. IGX operates under the regulatory framework of the Petroleum and Natural Gas Regulatory Board (PNGRB) and facilitates price discovery through its benchmark GIXI Index, supporting India's vision for a vibrant and competitive gas market. For media inquiries and further information, please contact:Shubhankar S. | shubhankar@crownlng.com (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
|
