Oil & Natural Gas Corporation Ltd.

State-owned Oil & Natural Gas Corporation (ONGC) is all set to sign a Memorandum of Understanding (MoU) to conduct feasibility of setting up $500-750 million liquid gas import terminal at Mangalore on March 18, 2013.

The said pact will be signed by ONGC, Bharat Petroleum Corporation (BPCL), Mitsui of Japan and New Mangalore Port Trust.

The terminal will have an initial capacity of 2-3 million tonnes, which can be expanded to 5 million tonnes later. The first phase of the terminal will cost $500-750 million and is expected to be completed in 3-4 years.