Indian Petronet LNG’s Apr-Jun regasification volumes rises on Dahej terminal expansion
Indian Petronet LNG’s April-June regasification volumes inched 1.4% higher year on year as it was able to utilize the expanded capacity at its flagship Dahej terminal for a few days during the quarter.
The terminal’s imported volumes rose to 217 trillion Btu (6.1 billion cubic meters) in the first quarter of the current fiscal year ending March 2020. It operated at 112% capacity during the period.
The Dahej terminal has a nameplate capacity of 17.5 million mt/year, up from 15 million mt/year, with the expanded capacity coming into operation from June 26 onwards.
The higher regasification volume was achieved due to better efficiency in operations as well as the utilization of the expanded nameplate capacity for six days.
In addition to the Dahej terminal in the west coast, Petronet LNG operates a 5 million mt/year LNG terminal at Kochi in Kerala.
The terminal at Kochi continued to operate below its capacity in the absence of a developed pipeline network in South India.
Overall, Petronet processed 226 trillion Btu at both the terminals in April-June, up 2.7% year on year, the company said.
State-owned companies GAIL, Oil and Natural Gas Corp, Indian Oil Corp. and Bharat Petroleum Corp. each have a 12.5% sharein Petronet. France’s GDF holds a 10% stake, while the Asian Development Bank holds a 5.2% interest. The remaining stakes are held by public shareholders.
India’s dependence on LNG imports is set to rise, as domestic production is expected to grow at a compound annual growth rate of 8.89% over the next five years, while demand is expected to increase by 11.07% over the same period, according to S&P Global Platts Analytics.