Fox Petroleum has unveiled its plans to construct a floating storage regasification unit (FSRU) liquefied natural gas (LNG) terminal in the state of Karnataka, India.
The offshore terminal, which will be capable of processing one billion cubic feet (bcf) of gas per day, will have a storage capacity of 330,000m³ of LNG onshore and a similar capacity offshore.
Upon completion, the terminal will address the energy needs of Karnataka and boost the local economy.
Fox Petroleum will need to meet certain government regulations to successfully commission the project.
Some of the regulations require the company to permanently moor the unit in 40m of water and maintain a constant draft condition while loading or offloading.
Fox Petroleum is also required to sustain offloading operations in a one-year storm event and shoreline delivery of LNG in a ten-year storm event.
The company has arranged the entire technical and financial needs for the project including funding from its own capacity.
Fox Petroleum chairman and managing director Ajay Kumar 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.
"These terminals will help in the delivery of LNG to onshore locations via an infrastructure of subsea pipelines.
"Six members of Fox Consultancy Services (a Fox Petroleum group company) 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."