H-Energy

What H-Energy does

H-Energy Pvt. Ltd. is a privately held Indian energy infrastructure company founded in 2009 and headquartered in Mumbai, focused on LNG import, regasification, natural gas transmission, and downstream gas distribution across India. The company's flagship asset is the Jaigarh LNG Terminal in Maharashtra, India's first FSRU-based LNG regasification facility, which entered commercial operations in March 2022 and offers 6 MMTPA of regasification capacity expandable to 8 MMTPA. The terminal uses the 170,000 m³ Höegh Giant FSRU under a 10-year charter with Höegh LNG and employs open-loop seawater heating for regasification, enabling year-round all-weather operations. H-Energy complements Jaigarh with two additional terminals under development, the FSU-based Kakinada LNG Terminal in Andhra Pradesh (4 MMTPA) and the land-based Kukrahati LNG Terminal in West Bengal (3 MMTPA, expandable to 5 MMTPA), supported by two PNGRB-authorized pipeline systems (56 km Jaigarh-Dabhol with 29 MMSCMD capacity, and 250 km Kanai Chhata-Shrirampur with 19.20 MMSCMD capacity) that tie into India's National Gas Grid.

The company's business model is anchored in long-term enterprise contracts for LNG regasification services and pipeline gas transmission, typically structured as ship-or-pay or take-or-pay arrangements with industrial customers in the power, fertilizer, petrochemical, refinery, city gas distribution (CGD), and broader manufacturing sectors. Revenue streams include usage-based regasification tariffs on LNG throughput, pipeline transmission fees, LNG sales via road tanker to off-pipeline industrial customers, and transaction-based sales at the Indi multi-fuel retail network (LNG, L-CNG, petrol, diesel, EV charging). LNG procurement is managed through the wholly-owned subsidiary HEMD Energy Trading and Shipping Mideast DMCC (HETS), sourcing supply from the Middle East, Malaysia, Australia, the USA, and Russia under a cooperation agreement with NOVATEK. H-Energy serves customers through a direct enterprise field sales motion, supported by Mumbai (headquarters), Delhi, and Dubai offices, with up to US$2.0 billion in committed infrastructure investment across the asset base. The company also holds regulatory authorizations (PNGRB pipeline approvals, EC and CRZ clearances) that constitute material first-mover barriers in India's coastal LNG import sector.

Name

H-Energy

Legal name

H-Energy Pvt. Ltd.

Website

https://henergy.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

501–1,000 employees

Short description

H-Energy is an Indian LNG and natural gas infrastructure company that operates FSRU-based regasification terminals (Jaigarh, Kakinada, Kukrahati), pipeline networks connecting to the National Gas Grid, LNG trading, and the Indi multi-fuel retail brand, serving power, fertilizer, petrochemical, refinery, CGD, and industrial customers across India.

Ownership category

akta.pro rank

Product category

LNG Regasification & Natural Gas Infrastructure

NAICS

Pipeline Transportation of Natural Gas (486210), Natural Gas Distribution (2212)

SIC

Natural Gas Transmisison & Distribution (4923), Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

LNG Operations, Maintenance & Reliability (O&M, Integrity, Turnarounds) (EUALAFAJ)

akta.pro secondary industries

LNG EPC, Commissioning & Project Development (Engineering, Construction, Permitting) (EUALAFAI), LNG Storage, Terminals & Bunkering (Peak Shaving, Small-Scale LNG) (EUALAFAD), Operations, Scheduling & Post-Trade for LNG (Nomination, Settlement, Claims) (EUAGAHAK)

Keywords

• LNG regasification services
• FSRU terminal operations
• Natural gas pipeline transmission
• LNG trading and shipping
• Multi-fuel retail network

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. LNG Regasification Services: H-Energy earns revenue by providing LNG regasification services at its Jaigarh FSRU terminal, converting imported LNG into natural gas for delivery into the National Gas Grid. This is the primary revenue driver, based on throughput volumes and long-term terminal use agreements with ship-or-pay provisions.
2. Gas Pipeline Transmission & Distribution: Revenue is generated through the operation of natural gas pipelines that connect H-Energy's LNG terminals to the National Gas Grid and end-use customers, charging transmission fees based on volume transported.
3. LNG Truck Sales (Indi Brand Retail Network): H-Energy sells LNG via road tanker trucks through its Indi-branded multi-fuel retail network, reaching customers in regions not connected to the pipeline grid. Revenue is generated from LNG volume sold at retail and industrial points.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

H-Energy operates an integrated LNG and natural gas infrastructure business in India, running LNG re-gasification terminals (Jaigarh FSRU, Kakinada FSU-based, Kukrahati land-based) and cross-state pipeline systems (Jaigarh-Dabhol and Kanai Chhata-Shrirampur) that connect into the National Gas Grid. It sells regasified LNG via pipeline and LNG via road tankers, and operates the Indi-branded multi-fuel retail network, with LNG procurement and shipping handled through its HEMD Energy Trading entity.

Product overview

H-Energy operates as an integrated LNG and natural gas infrastructure company with a portfolio of three distinct LNG terminals, two pipeline systems, and diversified gas supply and retail offerings. The core infrastructure consists of the Jaigarh LNG Terminal (India's first FSRU-based terminal in Maharashtra), the Kakinada LNG Terminal (FSU-based on the East coast), and the Kukrahati LNG Terminal (land-based facility in West Bengal). These terminals are supported by the Kanai Chhata-Shrirampur Pipeline (250 km) and Jaigarh-Dabhol Pipeline (56 km) connecting to the National Gas Grid. The company complements its infrastructure with LNG Trading & Shipping services (via HEMD Energy Trading), Gas Supply by Pipeline with multiple pricing linkages, LNG Fuel Retail under the 'Indi' brand, and LNG Supply by Road services.

Differentiator

Problem solved

Functional benefit

Brands

• Indi: Retail mall brand operated by H-Energy

Products and services

• Jaigarh LNG Terminal India's first FSRU-based LNG regasification terminal located at Jaigarh Port, Maharashtra, with a Phase I capacity of 6 MMTPA (expandable to 8 MMTPA in Phase II). Operates via the chartered Höegh Giant FSRU using open-loop seawater regasification and connects into the National Gas Grid through the 56-km Jaigarh-Dabhol Pipeline.
• Kakinada LNG Terminal FSU-based LNG re-gasification project located in Kakinada, Andhra Pradesh, on India's East coast, with onshore vaporizer capacity of 4 MMTPA. Operated under a Port Service Agreement with Kakinada Seaports Limited (KSPL) for marine and cargo handling.
• Kukrahati LNG Terminal Land-based LNG facility in West Bengal with initial capacity of 3 MMTPA (expandable to 5 MMTPA), featuring 180,000 m³ storage tanks and two dedicated LNG jetties for receiving and re-gasifying LNG on India's Eastern coast.
• Jaigarh-Dabhol Pipeline 56-km PNGRB-authorized tie-in pipeline connecting the Jaigarh LNG Terminal to Dabhol with a system capacity of 29 MMSCMD, including common carrier capacity, enabling regasified LNG transport to the National Gas Grid.
• Kanai Chhata-Shrirampur Pipeline 250-km PNGRB-authorized natural gas pipeline from Kanai Chhata (East Medinipur District) to Shrirampur (Nadia District) in West Bengal near the Bangladesh border, with system capacity of 19.20 MMSCMD including 4.80 MMSCMD reserved for common carrier use.
• LNG Trading & Shipping Global LNG procurement and shipping operations handled through wholly-owned subsidiary HEMD Energy Trading and Shipping Mideast DMCC (HETS), sourcing LNG from the Middle East, Malaysia, Australia, USA and Russia to feed H-Energy's Indian regasification terminals.
• Gas Supply by Pipeline Natural gas supply services to industrial, power, fertilizer, petrochemical, refinery and CGD customers via the National Gas Grid, with multiple pricing linkages including Brent Crude, Henry Hub, JKM, WIM, TTF, Ammonia-linked and Coal-linked, available in both ex-terminal and delivered arrangements.
• LNG Supply by Road Tanker delivery services through cryogenic road transport to CGD companies and industrial customers located outside the pipeline network, with LCNG station solutions available on a build-own-operate basis.
• Indi Multi-Fuel Retail Network Multi-fuel retail network operating under the 'Indi' brand offering LNG, L-CNG, Petrol, Diesel, EV charging and food court services at retail outlets, including fleet conversion support for commercial customers.

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• Höegh LNGcoreStrategic or Co-development Partner · 4 September 2019H-Energy has a long-term FSRU charter contract with Höegh LNG for the Höegh Giant floating storage and regasification unit, chartered for a period of 10 years. The Höegh Giant is deployed at H-Energy's Jaigarh LNG terminal in Maharashtra, India, providing LNG receiving, storage, and regasification services. This partnership is central to H-Energy's core business model of operating India's first FSRU-based LNG terminal.
• Kakinada Seaports Limited (KSPL)coreStrategic or Co-development Partner · 4 September 2019H-Energy entered into a Port Service Agreement with Kakinada Seaports Limited (KSPL) for LNG import operations at Kakinada on India's Eastern Coast. KSPL provides port and marine services supporting LNG vessel arrivals, berthing, and cargo handling at the Kakinada Deep Water Port. This partnership enables H-Energy's Eastern India LNG terminal operations, expanding its geographic footprint beyond the Jaigarh facility.
• NOVATEKcoreStrategic or Co-development Partner · 4 September 2019H-Energy signed an LNG Cooperation Agreement with NOVATEK, Russia's largest independent natural gas producer, on September 4, 2019. The agreement covers potential LNG supply arrangements from NOVATEK's portfolio, including Yamal LNG and Arctic LNG projects, to H-Energy's Indian terminals. This partnership secures a long-term LNG sourcing relationship, providing supply diversification for H-Energy's regasification terminals.
• JSW Jaigarh PortcoreStrategic or Co-development Partner · 4 September 2019H-Energy has a Port Service Agreement and Sub-Concession Agreement with JSW Jaigarh Port (part of the JSW Group) for operations at the Jaigarh Port in Maharashtra, India. JSW Jaigarh Port provides the marine infrastructure — berth, approach channel, and港湾 facilities — while H-Energy operates its FSRU and associated LNG handling equipment under the sub-concession. This is the foundational infrastructure partnership for H-Energy's flagship Jaigarh terminal.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Golar LNG: Owner/operator of FSRU vessels and floating LNG infrastructure, with a long history of FSRU-based regasification projects; comparable to H-Energy's core floating regasification operations and long-term chartering approach.
• Petronet LNG: India's largest LNG import terminal operator, running the Dahej and Kochi terminals with comparable regasification capacity, long-term shipping agreements, and pipeline connectivity to the National Gas Grid — making it the closest India-based analogue to H-Energy's Jaigarh, Kakinada and Kukrahati portfolio.
• Höegh LNG: Provider and operator of FSRU vessels and the long-term charterer of the Höegh Giant to H-Energy. It owns/operates FSRUs under similar long-term charter structures to H-Energy's core terminal business model.
• Excelerate Energy: Specialist FSRU-based LNG import terminal developer and operator, with a global fleet comparable to the Höegh Giant model H-Energy deploys at Jaigarh; directly comparable in regas technology and ship-or-pay commercial structures.
• BW LNG: FSRU and LNG carrier owner/charterer with active FSRU deployments globally; competes in the same floating regasification vessel space that underpins H-Energy's Jaigarh terminal.
• Indian Oil LNG (Ennore): Subsidiary of Indian Oil that operates the Ennore LNG terminal on India's east coast, offering a directly comparable land-based regasification facility serving industrial and CGD customers.
• Shell (Hazira LNG, India): Operates the Hazira LNG import terminal in Gujarat under a long-term offtake model; a pioneer India LNG importer comparable to H-Energy in regasification capacity, pipeline tie-in, and industrial customer base.

Regional players

• Gujarat Gas Limited: One of India's largest CGD companies, anchored in Gujarat, a region adjacent to H-Energy's western India terminals; represents the downstream customer base and a regional gas-distribution comparator.
• Indraprastha Gas Limited: Major Indian CGD company supplying CNG and piped natural gas to Delhi NCR; comparable to the demand-side of H-Energy's pipeline gas business (Indraprastha is a customer segment for H-Energy supply rather than a direct terminal peer).

Broad incumbents

• Gail (India): India's largest state-owned natural gas major with cross-country pipeline transmission and LNG sourcing activity; a broader incumbent that overlaps with H-Energy in pipeline transmission and gas marketing but operates at much greater scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/HEnergyGroup
• LinkedInlinkedin.com/company/h-energy-group-of-companies

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about H-Energy