The offshore terminal, which can process 1 billion cubic feet (bcf) of gas per day, is expected to have a storage capacity of 330,000 m³ of LNG onshore and same capacity offshore.
Fox Petroleum chairman and managing director Ajay Kumar said: "The world’s energy demand is growing far more rapidly than the energy industry can supply, so alternative resources are being investigated by the energy industry to address the deficit in energy production.
"These terminals will help in the delivery of LNG to onshore locations via an infrastructure of subsea pipelines.
"Six members of Fox Consultancy Services (a Fox Petroleum group company) engineers of senior class were tasked to provide a front-end engineering analysis for a Floating Storage and Regasification Unit (FSRU) which is proposed located in the India Coastal region off the coast of Arabian Sea."
The company should sustain offloading operations in a one-year storm event and shoreline delivery of LNG in a ten-year storm event.
The terminal will meet the energy needs of Karnataka while boosting the local economy.
Fox Petroleum will need to meet certain government regulations to successfully commission the project.
