South Asia Gas Enterprise (SAGE), a consortium of companies in deepwater pipeline projects, announced a $5 billion plan to establish an undersea liquefied natural gas (LNG) pipeline from the Gulf to India, according to media reports.
The consortium has sought help from India’s Ministry of Petroleum to develop the pipeline, Financial Express reported, citing SAGE director Subodh Kumar Jain.
The project’s technical and financial feasibility has been carried out successfully, SAGE director Subodh Kumar Jain said.
The proposed 2,000-km energy corridor connecting the Gulf countries and India will lead to an annual saving of $849.60 million.
The gas pipeline’s route will run via Oman and UAE through the Arabian Sea, allowing LNG import from Oman, UAE, Saudi Arabia, Iran, Turkmenistan and Qatar, a region with 2,500 trillion cubic feet of gas reserves.
Raj Kumar Singh, Indian Union minister for power and new and renewable energy, said the country plans to link its power grid with the UAE and Saudi Arabia through undersea cables.
Once approved by the cabinet, bilateral agreements will be signed with Saudi Arabia and the UAE for the mega projects.
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