Crown LNG signs memo on Indian gas sales

Crown LNG Holdings, a UK-based LNG project developer, has signed a memorandum of understanding (MoU) with India Gas Exchange (IGX) to collaborate on LNG sales from its planned import terminal in Kakinada, India, the company said on February 18.

The non-binding agreement, signed on the sidelines of India Energy Week 2025 in New Delhi, establishes a framework for LNG cargoes processed through Crown's regasification terminal to be listed, marketed, and sold on IGX’s automated trading platform. IGX will lead industry engagement initiatives to expand participation in gas trading, while Crown will work closely with the exchange on LNG supply coordination.

"This collaboration will offer Crown a unique position to sell gas to a large base of producers, traders, and offtakers throughout India," said Crown LNG CEO Swapan Kataria. "We believe this agreement is the first of several that will address the lack of supply for the eastern coast of the fourth largest LNG importer in the world."

Crown said the Kakinada terminal has been approved for a total import capacity of 7.2mn tonnes per year. The company expects to make a final investment decision (FID)  in 2026, with first gas deliveries anticipated in 2029.

India is aiming to increase the share of natural gas in its energy mix to 15% by 2030, in line with government targets. Crown and IGX said they would explore further cooperation to support this goal.

Crown LNG specialises in offshore LNG liquefaction and regasification infrastructure for harsh weather environments. The company is also developing projects related to green and blue hydrogen, ammonia, and power generation.

The company is advancing several other LNG projects across the world, though none of them are yet to reach a final investment decision (FID). In Scotland, it is looking to develop the Grangemouth LNG import project, aimed at enhancing UK energy security. Crown LNG plans to utilise floating storage and regasification unit (FSRU) technology for this terminal. The company has recently postponed the FID to the second quarter of 2025, citing the need for further engineering and design assessments. 

The company is also in early discussions with authorities in Vietnam on establishing a regasification terminal in Vung Tau, Vietnam. The proposed terminal would have a capacity of 10mn tonnes per year, costing $1.2-1.3bn to develop. 

Crown LNG is expediting plans to develop a 9mn tonne-per-year LNG export plant offshore Texas. The company aims to commence construction before the end of President Donald Trump's second term in 2029, leveraging a regulatory environment conducive to energy infrastructure projects. This facility is intended to supply LNG to Crown's regasification terminals in India, Vietnam and Scotland.