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.
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LNG World News Staff