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Ultra Gas & Energy to Invest Rs. 4,500 Crore in LNG Storage Facilities

Maharashtra-based Ultra Gas & Energy Ltd. will be investing Rs. 4,500 crore in Liquefied Natural Gas (LNG) storage facilities across India. About 300 LNG storage facilities will come up in the next three to four years as a result of this investment.

Out of these 300 facilities, 20 will be functional by the end of 2022, while the rest are planned to be developed by 2023-24.

Every one of these storage facilities will be capable of dispensing 50 tonne of LNG per day. Ultra Gas & Energy will be spending between Rs. 12 crore to Rs. 15 crore per facility along with the cryogenic trucks that will service them.