India’s Ministry of Petroleum has been sought by South Asia Gas Enterprise (SAGE) to help develop a USD 5 billion undersea LNG pipeline from the Middle East to India.
May 17, 2023
India’s Ministry of Petroleum has been approached by South Asia Gas Enterprise (SAGE) India to help develop an undersea LNG pipeline from the Gulf to India. The project entails an investment of USD 5 billion.
The 2,000-kilometer energy corridor will run via Oman and UAE and connect with India through the Arabian Sea. The corridor will enable LNG imports from Oman, UAE, Saudi Arabia, Iran, Turkmenistan, and Qatar. The region is home to 2,500 trillion cubic feet of gas reserves, and an annual saving of USD 849.60 million is expected for India.
Mr. Subodh Kumar Jain, Director of SAGE, shared that the project’s technical and financial feasibility has been successfully concluded.
Shri. R.K. Singh, India’s Union Minister for Power and New and Renewable Energy, had recently stated India’s plans to link National Power Grid with UAE & Saudi Arabia through undersea cables. He further stated that on the cabinet’s approval bilateral agreements with Saudi Arabia & UAE could be signed for mega projects.