Petronet LNG expects terminal to be at 40% capacity by 2019
Reuters are reporting that India’s Petronet LNG expects its 400 km pipeline connecting the Kochi LNG terminal in the south to industries further north to be ready in two years.
The Kochi terminal will supply LNG to the western state of Karnataka.
The Managing Director of Petronet, Prabhat Singh, has predicted that the terminal will run at 40% capacity by 2019.
The terminal will make an expected loss of 3.5 billion rupees in the current fiscal year, but it will swing to a profit of 2 billion rupees in the fiscal year to March 2019.
India is seeking to shift to cleaner energy such as LNG.
Singh said that over the next three years the company would be investing 100 billion rupees to set up LNG regasification capacities at Bangladesh, Sri Lanka and a minor facility in the Andaman islands.
Singh said in July that the company would spend up to US$3 billion in the next five years to expand overseas.