Fox Petroleum mulling FSRU offshore Karnataka

Fox Petroleum is planing to set up a floating storage regasification unit (FSRU) offshore Karnataka, India. 

The offshore terminal will be capable of processing 1 Bcf of gas per day, and will have a storage capacity of 330,000 cbm of LNG onshore and offshore to cater the energy needs of Karnataka, according to a statement by Fox Petroleum.

“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. LNG is one of the alternatives being explored.

Recent advancements in technology have given energy companies the ability to transport and deliver LNG long distances, and because of the impending energy shortage, federal regulatory agencies have relaxed the constraints that have been imposed in recent years on granting offshore construction permits in relation to LNG terminals,” Ajay Kumar, Chairman and Managing Director of Fox Petroleum said at a meeting with Shri. K. Siddaramaiah, Chief Minister of Karnataka.

“These terminals will help in the delivery of LNG to onshore locations via an infrastructure of subsea pipelines. Six members of Fox Consultancy Services ( one of Fox Petroleum group companies) engineers of senior class were tasked to provide a front-end engineering analysis for a Floating Storage and Regasification Unit (FSRU) which is proposed to be located in the India Coastal region off the coast of Arabian Sea,” Kumar added.