Bumi Armada, Shapoorji Pallonji JV to Set Up FSRU in Mumbai Harbour

May 19, 2021

World Energy Reports LLC.
Mumbai.jpg

Through a joint venture firm with Shapoorji Pallonji, Malaysian floating production vessel company Bumi Armada has struck a deal to set up and operate a floating storage regasification unit (FSRU) in Mumbai Harbour.

SP Armada Clean Energy Ventures Private Limited (SPACEVPL), Bumi Armada's joint venture with Shapoorji Pallonji entered into a license agreement on May 18, 2021,  with the Board of Trustees for the Port of Mumbai to set up, operate, and maintain an FSRU in Mumbai Harbor for a period of 30 years.

Under the license agreement, the parties have 270 days from the date of execution of the agreement to fulfill certain conditions before the agreement becomes effective.

The preconditions include Bumi Armada's JV securing financing, applicable permits for the start of construction works, and signing of the agreement between the FSRU owner/ charterer and SP Armada Clean Energy Ventures Private Limited for providing the FSRU for the license period.

At the end of the license period, ownership of the infrastructure, including the pipeline and jetty, except for the FSRU, is planned to be transferred to the Port of Mumbai.

"Further details relating to the project will be announced when there are further material developments," Bumi Armada said.

"In order to achieve a financially successful project, SPACEVPL will have to sell the terminal capacity and regasification to potential customers. To this end, there is a focused marketing strategy in place," the company said.


Floating Production Week delivers unrivaled overview, insight and analysis to the Offshore Floating Production Systems and Technology market

Floating Production Systems Report And Online Database

  • Annual five year outlook and forecast – At the start of each year we prepare a detailed assessment of future deepwater development and forecast the pace of orders for floating production systems over the next five years. Our 2021 annual report looks at market conditions likely to prevail through 2025 and provides our assessment of which of the 200+ floater projects in the planning queue will reach the final investment decision by end-2025
  • Monthly reports - Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 100 pages of data and industry analysis each month. Excel spreadsheets with each report enable subscribers to tailor the data presentation to their needs. In our May report we revisit the annual forecast and make revisions as needed.
  • Online database - The online database is updated every day – with information direct from primary sources. In the database are details for 200+planned projects, 390+ installations in service, 40+ floaters on order and 40+ floaters available. The database is fully searchable. Customized charts and spreadsheets can be directly produced from the database. Data are easily exported to excel spreadsheet.
  • Customer support - We are available to assist with technical questions about information in the database and reports -- and assist with any questions about using the database search tools.

Here's what you get!

Request a Demo