Indian firm eyes Qatar, Australia gas supplies
Agencies/New Delhi
India’s Petronet LNG is looking to buy liquefied natural gas (LNG) from Australia and Qatar for a planned new terminal, its head said yesterday, and confirmed it would double target capacity of the Kochi site.
A K Balyan also told journalists the company planned to start the Kochi terminal by October next year instead of July as it will now double the terminal’s planned capacity to 5mn tonnes a year.
Balyan said the additional capacity will need an investment of $70mn. The company has invested about Rs35bn ($770mn) for the initial 2.5mn ton capacity at the Kochi terminal.
“We are trying to merge phase one and phase two [of the plan] as we would like to avoid any construction after commissioning the first phase,” he added.
“We are seeking gas from Australia. We will also be seeking gas from Qatar as we have been doing for the Dahej terminal,” Balyan said.
Petronet already operates a 10mn-tonne a year LNG re-gasification plant at Dahej in the western state of Gujarat.
Gas companies such as Petronet LNG, India’s largest LNG importer by volume, and transmission utility Gail India Ltd are benefiting from this increase in demand.
Petronet LNG is expanding its gas import capacity due to rising demand across several industrial sectors and following a decline in domestic gas output from Reliance Industries D6 block off India’s eastern coast.
Balyan said Petronet may also consider increasing the capacity of its 10mn tonne terminal at Dahej, which is currently operating at more than 95% capacity.
Petronet plans to build a Rs10bn jetty at Dahej that will raise the terminal’s capacity to 13mn tons a year and is expected to be completed in the second half of fiscal year 2014.
It is looking to tie-up supply contracts with overseas companies for its new terminals.
It currently has a 7.5mn ton long-term supply contract with Qatar’s Ras Laffan Liquefied Natural Gas Co, or RasGas, and an agreement to buy another 1.5mn tonnes from ExxonMobil’s Gorgon project in Australia.
He said the company was in talks with RasGas in Qatar, which has enhanced its gas generation capacity to 77mn tonnes.
“We’re also aware of several new projects in Australia coming up. We are in talks with them.”
State-run Oil & Natural Gas Corp, Gail India Ltd, Indian Oil Corp and Bharat Petroleum Corp each hold 12.5% stakes in Petronet.
Gulf Times ? Qatar?s top-selling English daily newspaper - Finance & Business
Agencies/New Delhi
India’s Petronet LNG is looking to buy liquefied natural gas (LNG) from Australia and Qatar for a planned new terminal, its head said yesterday, and confirmed it would double target capacity of the Kochi site.
A K Balyan also told journalists the company planned to start the Kochi terminal by October next year instead of July as it will now double the terminal’s planned capacity to 5mn tonnes a year.
Balyan said the additional capacity will need an investment of $70mn. The company has invested about Rs35bn ($770mn) for the initial 2.5mn ton capacity at the Kochi terminal.
“We are trying to merge phase one and phase two [of the plan] as we would like to avoid any construction after commissioning the first phase,” he added.
“We are seeking gas from Australia. We will also be seeking gas from Qatar as we have been doing for the Dahej terminal,” Balyan said.
Petronet already operates a 10mn-tonne a year LNG re-gasification plant at Dahej in the western state of Gujarat.
Gas companies such as Petronet LNG, India’s largest LNG importer by volume, and transmission utility Gail India Ltd are benefiting from this increase in demand.
Petronet LNG is expanding its gas import capacity due to rising demand across several industrial sectors and following a decline in domestic gas output from Reliance Industries D6 block off India’s eastern coast.
Balyan said Petronet may also consider increasing the capacity of its 10mn tonne terminal at Dahej, which is currently operating at more than 95% capacity.
Petronet plans to build a Rs10bn jetty at Dahej that will raise the terminal’s capacity to 13mn tons a year and is expected to be completed in the second half of fiscal year 2014.
It is looking to tie-up supply contracts with overseas companies for its new terminals.
It currently has a 7.5mn ton long-term supply contract with Qatar’s Ras Laffan Liquefied Natural Gas Co, or RasGas, and an agreement to buy another 1.5mn tonnes from ExxonMobil’s Gorgon project in Australia.
He said the company was in talks with RasGas in Qatar, which has enhanced its gas generation capacity to 77mn tonnes.
“We’re also aware of several new projects in Australia coming up. We are in talks with them.”
State-run Oil & Natural Gas Corp, Gail India Ltd, Indian Oil Corp and Bharat Petroleum Corp each hold 12.5% stakes in Petronet.
Gulf Times ? Qatar?s top-selling English daily newspaper - Finance & Business