Skip to main content

Petronet eyes 2019 rescue for LNG plant

Published by
LNG Industry,


Bloomberg are reporting that Petronet LNG sees a lifeline arriving for its loss-making Kochi LNG import terminal by 2019 after it boosts capacity use fourfold.

The only LNG terminal in southern India is operating at about 10% of its 5 million tpy capacity. Capacity use may increase to 2 million tpy after a 1100 km gas pipeline, being built by state-run utility GAIL India.

The terminal has been mostly idle since its 2013 start as GAIL could not complete its Kochi-Mangalore pipeline because of resistance from land owners. GAIL restarted work after the Indian government, which aims to build 15 000 km of gas pipelines, prodded provincial governments to resolve the disputes. 

The stranded plant has been a drag on Petronet profits, which invested 45 billion rupees in building it.

The LNG terminal currently has only two local customers – Bharat Petroleum Corp.’s Kochi refinery and Fertilisers and Chemicals Travancore Ltd. – restricting imports to one shipment every two months.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/19072017/petronet-eyes-2019-rescue-for-lng-plant/

You might also like

 InEight

[WEBINAR] Why Risk-Adjusted Project Forecasting Is Becoming the New Norm

This webinar will walk the audience through a methodology for developing risk-adjusted plans, leveraging remote collaboration techniques for disparate and socially distanced teams. This next-generation risk management approach is already proving itself on numerous oil and gas CAPEX projects. Find out why InEight expects the trend of risk-adjusted scheduling adoption to continue. Register for free today »

 
 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

India LNG news


 

LNG Industry is not responsible for the content of external internet sites.