IEV, TL-Emrail Sign MOU to Consider LNG Projects in Tamil Nadu, India

Singapore-based IEV Holdings Limited announced Thursday that its wholly-owned subsidiary IEV Energy Sdn Bhd has entered into a binding Memorandum of Understanding (MOU) with a consortium comprising Timah Langat Holdings Berhad and Emrail Sdn Bhd (TL-Emrail Consortium), the firm said in a filing with Singapore Exchange.

Under the terms of the MOU, IEV Energy and TL-Emrail Consortium will initiate and conduct a feasibility study to review the prospects of cooperating and undertaking projects to process, transport and market liquefied natural gas (LNG) to industrial and vehicular sectors in Tamil Nadu, India.

IEV Energy’s scope is limited to the market study and throughput services -- processing and transportation. TL-Emrail Consortium will conduct the feasibility study for the LNG complex and floating storage regasification unit as well as prepare the necessary permits, licenses, and approvals from the Government of Tamil Nadu.

Under the MOU, both parties will negotiate a throughput agreement, cooperation agreement, and/or other contractual arrangements if the feasibility study indicate that the LNG projects are viable.

The MOU, valid for 12 months with option to extend through a written notice between the parties, will be valid as long as the cooperation between TL-Emrail Consortium and the Government of Tamil Nadu remains in place.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petronas: LNG Train 9 in Sarawak Moves... (Jan 23)
 -  Xodus Wins Apache North Sea Well Contr... (Jan 23)
 -  FAR: SNE 5 Appraisal Well Spuds Offsho... (Jan 23)
 -  Shell to Reshuffle Head of Exploration... (Jan 23)
 -  Scottish Government Reveals New Subsea... (Jan 20)


Most Popular Articles

From the Career Center
Jobs that may interest you
QA/QC Manager
Expertise: QA / QC / Inspection
Location: Santee, CA
 
Process Engineer
Expertise: Chemical Engineering|Process Engineer
Location: Greenville, SC
 
Senior Process Engineer
Expertise: Chemical Engineering|Process Engineer
Location: Greenville, SC
 
search for more jobs

Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours