Chart Industries and Indian Oil Corporation (IOCL) signed a memorandum of understanding (MOU) to promote the development of the LNG market in India.
The companies will focus on modular liquefaction, regasification applications LNG bunkering for barges and other marine applications, LNG and LCNG vehicle fueling stations, alternative LNG mobile transportation such as railcars and ISO containers and LNG micro bulk systems, Chart said.
Working together, both parties will explore opportunities for cooperation to promote natural gas and LNG development in multiple industrial and commercial sectors, the statement reads.
“The LNG opportunity in India is significant, as evidenced by the government’s commitment for clean fuel, and the double-digit LNG growth forecasts,” said Jill Evanko, Chart’s President and CEO.
He added that the cooperation with IOCL will expand Chart’s reach into the LNG market in India, and provides IOCL with speed to market as well as expanded service access.