We are expanding capacity: Dir. (Fin.)

Given the increase in gas consumption in India and limited availability, Demand for liquefied natural gas (LNG) is expected to rise, R.K. Garg, Director (Finance) at Petronet LNG Ltd said in an interview. Edited excerpts:

Q: Let us talk about demand because it has been extremely strong for you especially in the fiscal gone by; what is the expectation as far Dahej volumes are concerned for FY18?

A: The demand of LNG in the country is growing every year. Dahej terminal is operating normally at capacity and sometimes above the capacity. Overall LNG consumption in the country was around 19 million tonne and a major part of that had come to Dahej terminal. However, same thing we are seeing, going forward, at our Dahej terminal.

Q: You are saying that in FY17 your volume was 19 million tonne?

A: I am not saying that. 19 million tonne was imported totally in the country and quite a major quantity has come to our terminal in addition to other terminals operating.

Q: The growing expectation on the street is that for FY18 you would do 17 million metric tons per annum (MMTA). Is that reasonable?

A: I am not sure as currently we are at 15 million tonne LNG terminal and we are expanding to 17.5, the construction is going on for that; it may take two years more to complete.

Q: Are we looking at tariff increase anytime soon?

A: We have normal tariff which is already agreed. But some marginal raises happens every year as per contractual provision so that we have 5% increases.

Source: Mint, Delhi
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