Petronet Eyes 2019 Rescue for Nearly Idle $700 Million LNG Plant
- Kochi terminal seen operating at 40% of capacity from 2019
- Co. expects GAIL pipeline to add refinery, fertilizer clients
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Petronet LNG Ltd. sees a lifeline arriving for its loss-making Kochi liquefied natural gas import terminal by 2019 after it boosts capacity use fourfold.
The only LNG terminal in southern India is operating at about 10 percent of its 5 million-ton-a-year capacity, according to Finance Director R.K. Garg. Capacity use may increase to 2 million tons annually after a 1,100-kilometer (683 mile) gas pipeline, being built by state-run utility GAIL India Ltd. and connecting consumers such as Mangalore Refinery & Petrochemicals Ltd. is completed by the end of 2018, he said.