Akshay Kumar Singh, MD and CEO, Petronet LNG said with the softening of LNG prices in the international market more cargoes on a spot basis are coming in the country.
As the largest LNG importer, PLNG will continue to benefit from the rising demand from the city gas distribution and the power sectors
India's biggest importer of liquefied natural gas, Petronet LNG Ltd, reported net profit of Rs 397 crore in the third quarter ended December 31. Company‘s profit more than doubled as it handled record volumes of imported gas.
In an interview to CNBC-TV18, RK Garg, CFO, Petronet LNG spoke about the latest happenings in his company and sector.
The recently-commissioned Kochi terminal of Petronet LNG has been operating below capacity as it is yet to be connected to pipelines reaching different markets, the firm‘s CEO and MD A Balyan, told CNBC-TV18. He also said he would not be able to provide a timeline as to when the pipeline would be laid.
Petronet LNG Ltd, India's biggest buyer of liquefied natural gas, has received a second cargo at its newly constructed Kochi import terminal in Kerala.
Petronet LNG is banking high on its upcoming terminal in Kochi which is likely to be commissioned by July. In an interview with CNBC-TV18, RK Garg, director-finance at Petronet LNG said that initially it will cater to few customer and later when it gets connected to other two pipelines, volumes will pick up.
RK Garg, director - Finance, Petronet LNG expects the tie up with Kochi terminal to be commissioned by end of May or early June.
In an interview to CNBC-TV18 RK Garg, director-finance at Petronet LNG believes that new rules to introduce eligibility conditions for registration of LNG is not going to have any impact on their existing terminal at Dahej, as well as on their upcoming terminal at Kochi.
Petronet LNG says that commissioning of its Kochi terminal is on track. In an interview to CNBC-TV18, A.K Balyan, CEO and MD of the company said that by mid 2013, the Mangalore-Bangalore section of the pipeline will be ready.