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Spacenet Enterprises and Modern Gas Technologies partner to launch LNG in India
Industry News- Aug 06,24
The first phase of the initiative, spanning approximately three years, will involve the development of 20 LNG gas stations and fuel retail outlets.
Spacenet Enterprises has announced plans to establish a joint venture with Russian company Modern Gas Technologies to advance liquefied natural gas (LNG) projects in India.
The first phase of the initiative, spanning approximately three years, will involve the development of 20 LNG gas stations and fuel retail outlets. Following this, the network is set to expand to 180 LNG stations and outlets nationwide.
This collaboration marks a significant boost to India’s LNG infrastructure and supports the country's shift toward cleaner energy solutions. Prakash Dasigi, Executive Director, Spacenet, highlighted the joint venture's potential to enhance LNG capabilities across various sectors in India.
Aleksander Sorokin, General Director, Modern Gas Technologies, emphasised that their combined expertise will facilitate the growth of modern LNG solutions in the Indian market.
The partnership will also focus on retrofitting heavy commercial vehicles to transition from diesel to LNG. Spacenet will hold a 15-25% stake in the joint venture, with financing provided by a Russian bank.
(Source: Hindu)
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