Goa to hold eight to nine months of LPG cover instead of 15 days; at least 80% of permanent jobs reserved for Goans; a new Goa Institute of LPG and LNG Technology; a new non-Gulf import gateway for India’s west coast
Panaji, 31 October 2026: The Government of Goa and ANVI today signed a Memorandum of Understanding at the Vibrant Goa Global Business Summit 2026 to develop the Goa LPG Security Terminal and Storage at Mormugao, the State’s first facility to import, store and distribute LPG. The MoU was signed in the presence of the Hon’ble Chief Minister of Goa, Dr. Pramod Sawant.
(L to R) Ashutosh Verma, Founder, ANVI; Dr. Pramod Sawant, Hon’ble Chief Minister of Goa; and Shri Ankit Yadav, IAS, Chief Executive Officer, Goa Investment Promotion and Facilitation Board, at the signing of the MoU for the Goa LPG Security Terminal at the Vibrant Goa Global Business Summit 2026, Panaji.
ANVI, an India and UAE based energy trading and financial services group founded by Ashutosh Verma, proposes to invest about ₹5,000 crore (about USD 525 million) in two phases. The project comprises a dedicated LPG berth at Mormugao Port, a storage terminal on land near the port, a buried pipeline corridor connecting the two, and the Goa Institute of LPG and LNG Technology.
The MoU comes seven months after the closure of the Strait of Hormuz cut Goa’s commercial LPG supply to a fifth of normal levels. The terminal gives the State its own import gateway and a ring-fenced reserve, and adds import capacity on India’s west coast that does not depend on Gulf shipping routes.
“The proposed Goa Institute of LPG and LNG Technology, under this MoU, will train up to 500 people a year for careers in Goa, creating a much-needed skill ecosystem for India’s energy sovereignty”
Dr. Pramod Sawant, Hon’ble Chief Minister of Goa
Months of cover instead of fifteen days
Today all of the LPG Goa uses, about 80,000 to 100,000 tonnes a year, arrives by road, mainly from Mangalore. In March 2026 the State held about 15 days of stock. Within days of the Strait of Hormuz closing, commercial LPG supply was cut to 20% of normal and was still at 60% in April, while household refill intervals stretched from 15 to 25 days. Hotels, restaurants, beach shacks and fishing trawlers were the first to be affected.
Phase 1 refrigerated storage alone will hold about 65,000 tonnes, or eight to nine months of Goa’s total consumption. Within this, a ring-fenced State reserve of at least 30 days of Goa’s demand, about 7,500 tonnes, will be held in Goa at all times and released only on the Government’s instruction. In a declared emergency, Goan users will be served before any onward or export cargo.
Jobs and skills for Goans
Once operational, the project is expected to support about 2,450 lasting direct, indirect and induced jobs, and about 3,500 construction jobs at peak, rising to about 7,000 including indirect work. Under the MoU:
• At least 80% of permanent direct jobs and 70% of construction jobs are reserved for Goans, with both shares reported to the Government every year.
• Outbound LPG movement to Karnataka and Maharashtra will create about 600 skilled, year-round trucking jobs, with preference for Goan-owned fleets and Goan drivers, and support in arranging finance for owner-drivers.
• The Goa Institute of LPG and LNG Technology will train up to 500 people a year, with a set share of places for Goans and Directorate General of Shipping approved gas tanker courses. It will open before construction begins, so that Goans are ready for skilled roles when the terminal starts operating.
Revenue, port growth and clean cargo
The project will generate lease rent for Goa IDC, port revenue for Mormugao and tax revenue from terminal operations and the trade it attracts. It gives Mormugao Port a clean growth cargo that supports its effort to move away from coal, coke and dust-generating cargo; the berth and terminal will handle no coal, coke or other bulk cargo. The terminal will serve Goa first, then north Karnataka and south Maharashtra by road, other Indian ports by coastal tanker, and Sri Lanka, the Maldives and East Africa by sea.
Built to international safety standards
• Full-containment refrigerated tanks and mounded pressurised vessels, which remove the worst accident scenarios associated with above-ground pressure storage.
• A buried and continuously monitored pipeline corridor, with no above-ground pipe racks through villages.
• A berth inside the main harbour rather than in Vasco Bay, and a standing liaison with fishing communities on marine traffic and safety.
• Road tankers on approved, dedicated routes with GPS tracking and certified drivers.
• Safety and environmental studies to be published, and public consultations held, before any construction begins.
Strengthening India’s energy security
India produces less than 40% of the LPG it consumes, and before the 2026 crisis more than 90% of its imports came from the Middle East through the Strait of Hormuz. When the Strait closed, monthly imports fell to about 1.2 million tonnes in May, roughly half the pre-crisis average. The Government of India has since asked public sector oil marketing companies to hold LPG reserves of at least 30 days of national demand, about 2.8 million tonnes, and to raise the share of imports under US term contracts to at least 15% in 2027 from 10% in 2026.
At full build, the terminal will handle about three million tonnes a year with about 258,000 cubic metres of storage (230,000 refrigerated and 28,000 pressurised), giving oil marketing companies a new west coast location to hold part of the national reserve close to the markets of Goa, Karnataka and Maharashtra. ANVI will seek to include part of the terminal’s capacity in India’s strategic LPG reserve programme.
The terminal is also a gateway for supply that does not pass through the Gulf. ANVI is developing an energy supply corridor from the US Gulf Coast to India, and US and other Atlantic-basin cargoes can be brought directly into Goa. A new deep-water terminal between Mumbai and Mangalore spreads the risk of India’s concentrated LPG import infrastructure, and about half of its throughput is planned to move by coastal tanker, taking tanker traffic off the highways. Space has been reserved at the site for a small-scale LNG facility, subject to separate approvals.
“In March, Goa learned what fifteen days of stock means when the ships stop coming. This terminal makes sure that never happens again. Goa will hold its own reserve, in Goa and under the Government’s control, and in a crisis the first cylinder will go to a Goan kitchen, a Goan shack or a Goan trawler. For India, it opens a new door on the west coast for cargoes that keep clear of the world’s geopolitical hot spots. We are grateful to the Hon’ble Chief Minister and the Government of Goa for their confidence in ANVI. We intend to earn the trust of Goans by giving eight in ten permanent jobs to them, training them before the first tank is built, and creating allied businesses that Goans will own.”
Ashutosh Verma, Founder, ANVI
Next steps
A joint working group of the Department of Industries, the Goa Investment Promotion Board, Goa IDC, the Mormugao Port Authority and ANVI will be formed. The Government will identify land options near Mormugao Port for joint selection, a berth at Mormugao will be confirmed for LPG use, and the pipeline corridor route will be agreed. ANVI will then commission the detailed project report, safety study and front-end engineering design, and open the institute’s first courses. Statutory approvals and public consultation will follow, after which Phase 1 construction is expected to take 30 to 36 months. Phase 2 storage will be added once Phase 1 throughput and offtake contracts justify it. The final investment and timeline will be set by the detailed project report.
About ANVI
ANVI is an energy and commodities trading group headquartered at the Dubai Multi Commodities Centre (DMCC), founded by Ashutosh Verma. ANVI is developing an LPG supply business for South Asia through a supply corridor from the US Gulf Coast, and is building a tokenisation platform for commodities and energy transition products. The group is also developing an AI-first fintech platform for India’s unbanked and underbanked population. For more information, visit www.anvi.global.
Notes to editors
• The MoU is non-binding. It records the parties’ intent and a framework for cooperation; binding commitments will follow in definitive agreements, subject to approvals, due diligence and each party’s internal processes.
• Job, storage and investment figures are planning estimates from ANVI’s proposal to the Government of Goa and will be refined in the detailed project report.
• Goa supply figures are from the Government of Goa Department of Information and Publicity and The Goan (March and April 2026). National figures are from Argus Media, Drewry and Moneycontrol reporting between April and September 2026.
• High-resolution images of the signing and a project fact sheet are available on request.
(Disclaimer: The above content is a press release and PTI takes no editorial responsibility for the same.).
(PTI News)
