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Fox Petroleum proposed Karnataka Govt. to setup India’s first Floating Storage Regasification Unit (FSRU) LNG Terminal in Karnataka

Bangalore. 16th September, 2014. Fox Petroleum Limited, India’s leading young and innovative energy company has proposed Government of Karnataka to set up India’s First Floating Storage Regasification Unit (FSRU) LNG Terminal. The Offshore Terminal has to process 1 billion cubic feet (bcf) of gas per day and a storage capacity of 330,000 m3 of LNG Onshore and same capacity offshore to cater the energy need of the State of the Karnataka. Mr. Ajay Kumar, Chairman and Managing Director of Fox Petroleum Limited gave a detail oriented presentation to Hon. Shri. K. Siddaramaiah, Hon'ble Chief Minister, Government of the Karnataka yesterday evening at “Krishna”, the home office of Hon'ble Chief Minister at Bangalore, Karnataka. India

During his presentation, Mr. Ajay Kumar, Chairman & Managing Director of Fox Petroleum Limited shared a comprehensive analysis of opportunity and challenges of setting up the innovative project and explained how it can contribute to energy need of the state. He 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. Liquefied natural gas (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.”

“These terminals will help in the delivery of LNG to onshore locations via an infrastructure of sub-sea 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 located in the India Coastal region off the coast of Arabian Sea.” Mr. Kumar Added.

For successful commissioning of the project, the terminal has to satisfy regulations as set forth by the Government of The Karnataka & Government of India, and other statutory and regulatory body of Government of India, as well as design constraints imposed by concerning operational expectations. Such constraints consisted of the following:-

  • Will be permanently moored in 40 m of water
  • Must be able to process 1 billion cubic feet (bcf) of gas per day
  • Must have a storage capacity of 330,000 m3 of LNG
  • Must maintain a constant draft condition while loading or offloading
  • Must sustain offloading operations in a 1-year storm event
  • Must sustain shoreline delivery of LNG in a 10-year storm event
  • Must survive a 100-year storm event

Fox Petroleum has also arranged all required technical and financial requirements for the project including funding the project by its own capacity. Once installed the project, there will be enormous opportunity for boosting local economy in Karnataka in terms of Employment opportunities, township development for the staffs and health and hygiene facilities. It will also develop state GDP by 10 % Aprx.

Nodal officers to follow up MoUs signed during investors' meet

Fox Petroleum has come forward to set up floating storage regasification units in coastal districts at a cost of Rs 7,000 crore.

Invest Karnataka 2016: Deals worth Rs 1.33 lakh crore signed

Top projects committed

Adani Green Energy Limited: Rs 18,500 crore
JSW Steel Limited: Rs 12, 396 crore.
Geitso Green Energy Pvt Ltd: Rs 10,000 crore
Essel Infra Project: Rs 7,200 crore
Fox Petroleum Limited: Rs 7,000 crore
Shriram Properties Limited: Rs 5,920 crore

Clutch of investment deals expected as Abu Dhabi Crown Prince arrives in India

Ajay Kumar, the chairman and managing director of Fox Petroleum, based in New Delhi, which is an associate com­pany of Fox Petroleum FZC in the UAE, said there was plenty of potential for the UAE to invest in India’s energy sector.

“We are expecting investment into the energy sector, including terminals, refineries, which will enhance the economy of India as well as the returns for the UAE,” he said.

Modi reveals plan to attract foreign investment into India

Ajay Kumar, the chairman and managing director of Fox Petroleum, based in New Delhi, which is an associate company of Fox Petroleum FZC in the UAE, said that Mr Modi had “fired the best weapon of economic development and growth”.

“He has given a red carpet for global players to invest in India,” Mr Kumar added. “It will boost all sectors of industry – especially for small-scale manufacturing units and heavy industries too.”

Iran deal bodes well for Oman-India pipeline project

Local media quoted the firm's Chairman and Managing Director, Ajay Kumar, as saying that the proposed OIMPP project would be designed to transport 8 trillion cubic feet of natural gas to India over a period of 20 years. Construction of Phase 1 of the project, covering the 1,300 km distance from Ras al Jifan to India's Gujarat coast, would take around four years to complete. A further 300 km length would be added to the network to carry the gas from Gujarat onward to Mumbai.

Fox Petroleum says it envisages multiple gas pipelines being built by different investors between Oman and India, thereby creating something of a 'Gas Highway' between the two countries.

Undersea Iran-Oman-India pipeline beneficial to all participants

Tanchum said that in addition, Fox Petroleum, which also submitted a proposal to construct the pipeline, have asserted that gas imports to India via an undersea pipeline from Oman would be less expensive than India’s LNG imports by $1.5-2 per million British thermal units. "Despite the added challenge of having to circumnavigate Pakistan's extended EEZ, the project appears to remain feasible," the senior fellow at the Eurasian Energy Futures Initiative and Global Energy Center at The Atlantic Council added. (Cihan/Trendaz)

$5.6bn Oman-India pipeline plans on track

Work on a $5.6-billion deep-water pipeline project to carry natural gas from Oman to India could begin before the end of this year, a top official said.

The pipeline has the potential to carry crude oil and other petroleum products, Dr Ajay Kumar, chairman and managing director of India’s Fox Petroleum Group, was quoted as saying in the Oman Observer report.

Critical details of technology, engineering design, pipeline supply, execution and financing have been worked out in anticipation of an early commencement of the initial phase, the report said.

“We at Fox Petroleum have been working on the Oman-India deep-water multipurpose pipeline project (OIDMPP) since 2009,” Dr Kumar was quoted in the report.

“Our goal now is to obtain the necessary approvals from the governments of Oman and India before we can get started with the construction of this venture. The estimated investment of $5.6 billion for this dream project will be provided entirely by Fox Petroleum and its partners.”

Plans outlined by Fox Petroleum include a deep-water, transnational, natural gas pipeline system that will be designed to also transport crude, LPG (liquefied petroleum gas) and other petroleum commodities. “We can transport other refined petroleum products using the same pipeline as per a schedule of bookings during the course of the year,” Dr Kumar said.

Running about 1,600 km along the seabed of the Arabian Sea, the OIDMPP project will be capable of transporting around 8 trillion cu ft (TCF) of natural gas to India over a period of 20 years, according to the report.

The pipeline is expected to make landfall at Ras Al Jifan in Oman. Plunging to a maximum depth of 3,400 m, it will connect on the Indian side with terminal facilities existing on the Gujarat coast. In the second phase, the pipeline system is proposed to be extended to Mumbai.

The project is estimated to be completed in five years.

Modi and the Sino-Indian Game for Iranian Gas

The Indian prime minister makes his opening move in a mini "Great Game."

A week prior to the Iran-P5+1 Framework Agreement, Fox Petroleum issued a proposal for the construction of the Oman-India Multi-Purpose Pipeline (OIMPP), a deep water pipeline system to transport Iranian natural gas via Oman to a receiving terminal on the coast of India’s Gujarat state. Costing an estimated $5.6 billion, the 1,600 km pipeline would transport 8 trillion cubic meters over a 20 year period. Citing recent advances in deep-sea pipeline technology, Fox Petroleum’s chairman asserted that gas imports to India via OIMPP would be less expensive than India’s LNG imports by $1.5-2 per million BTU. The same pipeline system could also be used to transport natural gas from Qatar to India, thereby creating a nexus of Persian Gulf natural gas suppliers oriented toward supplying the world’s fast growing major economy. And, as Modi intimated in Ashgabat the potential would even exist for Turkmenistan to export its gas to India across Iran and via the undersea pipeline.

Proposed multi-billion KZN gas terminal to create 16 000 jobs

Fox Petroleum on agreed to invest in a 1500 megawatts gas power plant, using LNG as feedstock, to power the operation.

At the stakeholders engagement session, held on Thursday afternoon in Richards Bay, Fox Petroleum Chairman and Managing Director Ajay Kumar emphasised the plant will not only provide clean, renewable energy, but four percent of the total earnings will be re-invested in the local community.

“It’s not – tax, it’s humanity,” Kumar said. “We will build schools, a college, a hospital offering medical services free of charge, and give scholarships.”