Inox India bags order to build mini LNG terminal in The Bahamas

Cryogenic technology provider Inox India Ltd on Monday, November 11, said it has secured its largest order, so far — to design, engineer, and supply a Mini liquefied natural gas (LNG) terminal for a power plant project in The Bahamas from Island Power Producers Ltd. (IPP).

The order includes INOXCVA’s supply of ten 1,500 cubic meter vacuum-insulated cryogenic storage tanks and a regasification system.

The project, located on Arawak Cay near Nassau Cruise Port, is designed to support IPP’s 60 MW combined-cycle power plant, providing sustainable shore power for cruise ships, INOX India said in a regulatory filing to the stock exchanges. The financial details of the project have not been disclosed.

With a total LNG storage capacity of 15,000 cubic metre, the facility will become the world’s largest installation of shop-built, double-walled vacuum-insulated cryogenic tanks, representing a model solution for energy generation and LNG distribution in remote locations.

"Our modular, high-capacity design will enable minimal site activity and faster project implementation, with all major components manufactured at our Kandla facility, promoting India's 'Make in India' initiative," said Siddharth Jain, Promoter and Non-Executive Director of INOX India Ltd.

This marks INOXCVA's third Mini LNG terminal and the first of its kind in the Caribbean, following the recent completion of another terminal in Antigua. The terminal’s modular design allows it to support LNG distribution via smaller ships and ISO containers, extending LNG access for diverse energy needs throughout The Bahamas.

"With INOXCVA’s experience and our commitment to secure, sustainable LNG-based power supply, this terminal will serve as a cost-effective, low-carbon hub for the region," said IPP Director Chris Satterfield.

As the largest project to date for INOXCVA’s LNG division, this contract underlines the growing global demand for LNG-based energy solutions in remote and island regions, the company said.

Shares of INOX India were quoting 0.67% higher at ₹1,191.15 at 9.40 am on Monday, November 11. The stock has gained 35.6% this year, so far.

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