ONGC inks deal with IOC to set up LNG plant near Hatta gas field in Madhya Pradesh
ONGC and IOCL have partnered to establish a small-scale LNG plant near the Hatta Gas Field in Madhya Pradesh’s Vindhyan Basin. This project, using advanced technology, aims to upgrade the basin’s resource potential, reduce carbon emissions, and support India’s climate change goals. The non-binding MoU signed on June 17 highlights their commitment to sustainable energy production and aligns with India’s objectives of energy security and economic growth.
State-owned Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation Limited (IOCL) have formalized a partnership to establish a state-of-the-art small-scale Liquefied Natural Gas (LNG) plant near the Hatta Gas Field in the Vindhyan Basin, Madhya Pradesh.
According to ONGC, the Hatta LNG plant is expected to revolutionize the energy landscape of the Vindhyan Basin, upgrading it from a Category II to a Category I Basin, reflecting its increased resource potential and economic significance.
Using advanced technology, the Hatta LNG plant will produce LNG, recognized as a cleaner alternative to conventional fossil fuels. Adopting LNG is a crucial step in reducing carbon emissions, making a significant contribution to India’s efforts in climate change mitigation and its commitment to a sustainable future.
The discovery at the Hatta Gas Field is the culmination of ONGC’s five decades of continuous exploration efforts. In line with this discovery, ONGC has submitted its Field Development Plan (FDP) to the Directorate General of Hydrocarbons (DGH), aimed at effectively monetizing the gas resources in the Hatta region.
The non-binding Memorandum of Understanding (MoU) signed between ONGC and IOCL on June 17 for the establishment of a technology demonstration small-scale LNG plant at Hatta signifies a forward-thinking approach to energy production.
The partnership between ONGC and IOCL underscores their shared commitment to a future where energy production is harmonized with environmental stewardship. ONGC emphasized that this initiative is not solely about energy production but also represents a significant stride towards achieving the national objective of reducing carbon footprints and ensuring a sustainable future.
Establishing the LNG plant near the Hatta Gas Field strategically aligns with India’s broader objectives of energy security, economic growth, and environmental sustainability.
Source Link: https://bioenergytimes.com/ongc-inks-deal-with-ioc-to-set-up-lng-plant-near-hatta-gas-field-in-madhya-pradesh/
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