Petronet LNG is planning to set up a 5 million tonnes per annum liquefied natural gas terminal along the East Coast.

Mr AK Balyan MD and CEO said that the Petronet board has approved a proposal to carry out the detailed feasibility report for the terminal, which, at current rates is expected to cost at least USD 1 billion.

He said that the terminal is expected to be ready in five years. The pre feasibility and internal assessment had thrown up five to six locations, including Gangavaram and Kakinada in Andhra Pradesh, but a final call will be taken based on the detailed report.

Mr Balyan also said work on the Kochi terminal was on track and it was likely to be commissioned by the fourth quarter of 2012. He added that “Looking at the huge demand for natural gas, including LNG, the board has decided to raise the Dahej terminal capacity by an additional five million tonnes per annum beyond its present nameplate capacity of 10 million tonnes per annum.”

(Sourced from BL)