Petronet LNG to up Kochi terminal’s utilization capacity to 40 pct by 2019

Petronet LNG to up Kochi terminal's utilization capacity to 40 pct by 2019
Kochi LNG terminal (Image courtesy of Petronet LNG)

India’s largest importer of liquefied natural gas, Petronet LNG, intends to run its Kochi terminal at 40 percent capacity by 2019. 

The 400-kilometer pipeline, that would connect the Kochi LNG terminal to the gas transmission system, is expected to be completed within the next two years, Reuters reports, citing Prabhat Singh, Petronet LNG’s managing director and CEO.

According to Singh, the terminal is expected to make an Rs 2 billion (Approx: US$29.3 million) profit in the fiscal year to March 2019. This compares to an Rs. 3.5 billion (Approx: $51.2 million) loss predicted for the current fiscal year.

At the end of 2016, Petronet LNG’s director of finance R.K. Garg, was reported as saying that the terminal’s only consumer , Kochi Refinery, owned by Bharat Petroleum, has been expanded and it is expected that the use of Kochi’s capacity could rise up to 20 percent in 2018.

1 INR = 0.0146357 USD

 

LNG World News Staff

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