India’s largest importer of liquefied natural gas, Petronet LNG informed that it has executed a long-term capacity booking agreement with Torrent Power.
Under the agreement, Torrent Power booked 1 million tons per year capacity at Petronet’s Dahej LNG terminal for a period of 20 years starting in 2017, a filing to the stock exchange reveals.
Petronet LNG, that has seen its net profit drop more than 30 percent, revealed that the Dahej LNG terminal operated at around 120 percent of its nameplate capacity during the quarter ended September 30.
The company is moving forward with its expansion of the terminal from 10 mtpa to 15 mtpa, expecting completion by the end of 2016.
It has also initiated the process to select the EPC contractors for further expansion of the terminal from 15 mtpa to 17.5 mtpa of LNG.
LNG World News Staff; Image: Petronet LNG