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Tuesday, April 19, 2011 - 6.39 GMT |
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Petronet LNG eye Sri Lanka |
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Petronet LNG, India's biggest gas importer, is eyeing the Sri Lanka market, stated the Economics Times.
The company targets to double its liquefied natural gas (LNG) business in next five years from current about 8 million tonne per annum by expanding existing infrastructure and adding new capacities, the company's managing director and CEO AK Balyan said. To cater to future demand, Petronet has decided to set up a 2.5 million tonne LNG terminal in the east cost with an investment of $1.5 billion, he said.
It has already engaged a consultant to find a suitable location to build the east coast's first LNG terminal. "The consultant will submit its report by the end of this month. But, 2.5 million tonne initial capacity is ideal for optimal utilisation of infrastructure," he said. He said that the project could be commissioned in 36-40 months given company's prior experience.
Petronet has already operating a 10 million tonne per annum capacity LNG facility at Dahej in Gujarat. But the company has 7.5 million tonne per annum long-term assured supply for the terminal from Qatar. Petronet has been able to operate almost 9.5 million tonne volume from its Dahej terminal last month through LNG purchased in spot market and plans to expand the capacity further.
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