LNG

Petronet LNG, the owner of the largest Indian cargo import terminal at Dahej, has incorporated a wholly-owned subsidiary company in Singapore to increase trading activities especially for spot and short-term LNG cargo supplies.

June 18 (LNGJ) - The Chief Executive of India’s Petronet LNG, Akshay Kumar Singh, told a conference that the nation needed more regasification and other infrastructure to meet increasing natural gas demand. He noted that Petronet, operator of the largest terminal at Dahej north of Mumbai and the southwest Kochi facility in Kerala, accounted for a good proportion of the existing 42.5 million tonnes per annum of import capacity of the six operating terminals.

   Singh said India needed to increase its LNG import capacity to 155 MTPA, considering that utilization would be 80 percent, to supply the growing market. “LNG will play a major role in catering to this incremental demand and the share of LNG in natural gas consumption is likely to increase from the present 55 percent to 70 percent in the coming 9-10 years,” stated CEO Singh.

Petronet LNG, the largest Indian importer and owner of two regasification terminals on the West Coast, has named Indian Oil Corp. director of pipelines Akshay Kumar Singh as its new Chief Executive as the nation expands its LNG and natural gas pipeline infrastructure.