Petronet LNG, India’s biggest player in liquefied natural gas, is planning to set up a re-gassification terminal in Sri Lanka as part of a strategy to expand its footprint outside the country, the Financial Express reported.
Earlier, it has started negotiations to set up a similar project in Bangladesh.
“We have proposed the setting up of a 1million-tonne terminal in Sri Lanka,” Prabhat Singh, managing director and CEO, Petronet LNG, told FE. Currently, a 5 million-tonne-per-annum (mtpa) terminal costs around Rs 4,500-5,000 crore.
Singh said that by 2020, Petronet would double its storage capacity to 30 million tonnes. Its Dahej terminal, with 15 million-tonne capacity, is operating at 120% capacity. Another 5 million-tonne terminal in Kochi is operating below 10% capacity due to a lack of evacuation facility.
Petronet’s aim to set up a re-gassification terminal in Sri Lanka is expected to get a diplomatic push from the Modi government.
-Agencies
