Petronet eyes foreign LNG plants
1-Jan-1970


New Delhi
Petronet LNG Ltd, India's largest liquefied natural gas importer, is eyeing equity in LNG plants in gas exporting countries even as it plans to invest Rs 4,000 crore (Rs 40 billion) in doubling its Dahej LNG terminal capacity and setting up a new import terminal at Kochi in Kerala.

"We plan to participate in liquefication plants (where gas is converted into liquid for transportation through ships) in countries where our promoter firms are seeking to import LNG," Petronet LNG managing director and CEO Suresh C Mathur told a news conference in New Delhi.

Petronet promoter firms, Indian Oil Corp, Oil and Natural Gas Corp and GAIL (India) Ltd are looking at importing LNG from Australia, Indonesia, Iran, Oman and Qatar.He, however, said no proposal has been finalised as yet.

Petronet, he said, would also seek equity in city gas distribution projects, which supply CNG to automobiles and piped gas for domestic use in households in Delhi.

Petronet director (finance) P Dasgupta said the company would complete doubling of Dahej terminal capacity to 10 million tonnes by 2008 and construct a new 2.5 million tones import terminal at Kochi by 2009.

"We can import and regassify upto 6.25 million tonnes of LNG at Dahej through minor de-bottlenecking. We are seeking short term supplies of 1.25 million tonnes," he said adding Qatar, Oman and Abu Dhabi were the potential suppliers.

Petronet currently imports 5 million tonnes of LNG from RasGas of Qatar. RasGas would supply another 2.5 million tonnes when Dahej expansion is completed and its promoters will bring 5 million tonnes Iran LNG at Dahej and Kochi.




Source: Rediff.com, July 25, 2005
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