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Petronet Lng Ltd News

08 May 2019

Tellurian to Decide on Louisiana Driftwood LNG Project in 2019

Tellurian Inc confirmed on Wednesday it still plans to make a final investment decision to build its proposed $30 billion Driftwood liquefied natural gas (LNG) export project in Louisiana in 2019:* The company, in a first-quarter earnings statement, said it was on track to make a final investment decision in 2019, start construction in 2019 and begin operations in 2023.* Driftwood is designed to produce 27.6 million tonnes per annum (MTPA) of LNG or about 4 billion cubic feet per day (bcfd) of natural gas. One billion cubic feet of gas is enough to fuel about 5 million U.S. homes for a day.* The company has said the first phase will likely comprise 16.6 MTPA.* Driftwood is one of more than a dozen U.S.

10 Dec 2016

SCI Led JV Takes Delivery of LNG Carrier “PRACHI"

A Joint Venture comprising The Shipping Corporation of India Ltd. (SCI), Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines, Ltd. (MOL), Kawasaki Kisen Kaisha, Ltd. (“K” Line), and Petronet LNG Ltd (PLL), have taken delivery of a new build Liquefied Natural Gas (LNG) carrier MT “PRACHI” having a capacity of 173,000 m3, from Hyundai Heavy Industries Co. Ltd. South Korea on 30th November, 2016. Simultaneously, the vessel has been delivered to Petronet LNG Ltd, New Delhi India’s first importer of LNG on a 19 year charter. Since 2004, Petronet has imported 5 million tons of LNG a year from Qatar, and an additional 2.5 million tons per year since 2009, using three LNG carriers.

16 Aug 2016

Petronet LNG Commissions Expanded Dahej LNG

Petronet LNG Ltd has annouced that the part facilities of the expansion of Dahej LNG Terminal from 10 tlko 15 MMTPA i.e. regasification facility has been commissioned and under stabilization.    As such the additional gas send-out from Dahej LNG terminal  in the north-west state of Gujarat has commenced. The balance part of the expansion i.e. two LNG storage tanks are likely to be completed by October, 2016.   Petronet LNG is one of the leading players in oil and natural gas industry space. It has India’s first and largest LNG supply terminal located at Dahej.

12 Jul 2016

Asia Pushes LNG as a Bunker Fuel

An increasing number of ships and vessels are using liquefied natural gas or LNG as a clean fuel to comply with the regulations laid by the International Maritime Organization (IMO) across emission control areas. LNG as a ship fuel reduces the emission of sulphur dioxide by 90-95% compared to the conventional petroleum fuels. This factor has propelled the growth of the global LNG bunkering market, says Transparency Market Research (TMR). The market stood at 70 kilo tons in 2013 and is anticipated to expand phenomenally at a CAGR of 63.6% during the period between 2014 and 2025. The overall market is projected to reach 22,540 kilo tons by 2025.

16 Jan 2015

Shell, GDF Take Stakes in Floating LNG Terminal

Europe's largest oil company Royal Dutch Shell and French firm GDF Suez are likely to take 26 percent stake each in GAIL India Ltd’s proposed ‘floating LNG import terminal’ at Kakinada in Andhra Pradesh. Andhra Pradesh Gas Distribution Corp (APGDC) – a joint venture of GAIL Gas and Andhra Pradesh Gas Infrastructure Corp (APGIC) will have the remaining 48% share. Shell, GDF and GAIL on Thursday also signed an agreement to procure LNG for the project. The 3.5-million-tonne a year floating storage and regasification unit (FSRU), was conceived in 2012. The partners will bring an FSRU, import gas in its liquefied form (LNG or liquefied natural gas) in ships to the terminal, pipe it to land and sell in Anhra Pradesh and beyond.

17 May 2014

Petronet achieves highest turnover at Rs 37,748 crores

Petronet LNG Ltd, the nation's biggest importer of gas, reported yesterday its highest turnover at Rs 37,748 crores for the year ended March 31, 2014 and net profit at Rs 712 crores. During the year the Dahej terminal processed 489 TBTUs depicting a capacity utilisation of 96%. Kochi terminal was commissioned during the year and processed only 4.50 TBTUs of LNG serving two consumers in the vicinity of the terminal – the BPCL refinery and FACT. natural gas demand in the Country. The turnover, however, registered an increase of 20% over the previous year – primarily on account of increase in the price of LNG and depreciation of Indian Rupee vs the US Dollar. Capitalisation of the terminal at Kochi has added significant costs on account of interest and depreciation.

15 Mar 2012

India LNG Terminal to Receive LNG Cargo

India’s third liquefied natural gas import terminal will receive its first shipment this month from Norway, two people with knowledge of the transaction said. The so-called commissioning cargo, which will be used to prepare the site for commercial operations, will be delivered by Excelerate Energy LLC to GAIL India Ltd.’s Dabhol terminal, on the country’s west coast, on about March 27, one of the people said, declining to be identified because the information is confidential. The LNG carrier, called Excelerate, loaded last week at Statoil ASA’s Snohvit LNG plant in the Barents Sea off Norway and is bound for Dabhol, both people said. The ship is currently in the Mediterranean Sea heading east. India is increasing LNG imports after Mumbai-based Reliance Industries Ltd.

07 Sep 2010

ADB Seeks to Sell Stake in Petronet LNG

According to a September 6 report from The Wall Street Journal, the Asian Development Bank plans to offload its stake in Petronet LNG Ltd., valued at $95.6m, India's Oil Secretary said. Asian Development Bank holds a 5.2% stake in Petronet, India's largest liquefied natural gas importer by volume. (Source: The Wall Street Journal)

02 Jan 2001

Petronet To Seek Fresh Shipping Bids

India's Petronet LNG will seek fresh price bids from the four consortia left in the race for a contract to ship liquefied natural gas (LNG) from Qatar to a terminal at west coast Dahej. "Technical bids have been opened and deviations are being sorted out. Once that is over, fresh price bids would be asked from the four," the official, who did not want to be identified, told Reuters. He said the deadline for selecting the shippers is March 31. Of the eight consortia which were pre-qualified after global competitive bidding, only four submitted technical and price bids. * Indian Oil Corp., Exmar of Belgium and Great Eastern Shipping Co. Ltd. * Essar Shipping and Malaysia International Shipping Corp.

21 Aug 2007

ADB to Help Fund Petronet Expansion

According to reports, Asian Development Bank has signed an agreement to offer $169 million in local currency debt to India's Petronet LNG Ltd. to help fund its expansion. Earlier this week, International Finance Corp. and other banks offered $300m loans to help Petronet build a liquefied natural gas import-and-regassification terminal in southern India. Petronet LNG has a similar facility in Dahej in the western state of Gujarat. (Source: Reuters)

08 Mar 2006

Petronet LNG to Float Subsidiary

Natural gas importer Petronet LNG Ltd (PLL) plans to float a shipping subsidiary overseas to haul gas to its greenfield re-gassification terminal of 2.5 million tonnes per annum capacity proposed at Kochi in Kerala. The diversification plan has been unveiled in the tender conditions stipulated by Petronet for selecting ship owners and operators for transporting LNG to the Kochi terminal. This is a departure from the first two shipping tenders finalized by Petronet for hauling gas from RasGas in Qatar to Dahej in Gujarat, wherein it holds a 15 percent stake each in the first two tankers and 23 percent stake in the third tanker. The recent tender floated by Petronet for time chartering two LNG tankers of 165…

08 Mar 2006

Petronet LNG Eyes Supplier

Petronet LNG Ltd. is in talks to buy Liquefied Natural Gas (LNG) from Chevron's Gorgon project in Australia. The Indian firm wants to import 2.5 million tonnes a year of LNG from Gorgon from 2010 using a new terminal being built at the southern city of Kochi. Petronet built India's first LNG terminal at Dahej, on the western coast, two years ago to import super-cooled gas from Qatar. If LNG supplies from Gorgon were delayed, Petronet would divert gas from its terminal at Dahej. (Source: The Financial Express)

08 Mar 2006

India Approves Shipping Corp LNG Joint Venture

The Indian government on March 4 approved state-run Shipping Corporation of India Ltd.'s plan to take a 33.8 percent stake in a new Panama-based liquefied natural gas (LNG) transportation company. Shipping Corp. will invest $21 million in the firm, in which Japan's Mitsui OSK Lines Ltd., Nippon Yusen Kabushiki Kaisha and Kawasaki Kisen Kaisha Ltd. would be other partners. The new company would transport LNG for India's state-run Petronet LNG Ltd., which operates a 5-million-tonne LNG terminal in Dahej on India's west coast. The company would transport 2.5 million tonnes of LNG for an expanded facility at Dahej. Petronet LNG has a long-term contract with Qatar's Rasgas to buy 7.5 million tonnes of LNG for its terminal.

11 Jan 2006

Petronet to Raise LNG Imports to 17.5M tons

Petronet LNG Ltd. plans to raise its base capacity for liquefied natural gas (LNG) imports from 2.5 million today to 17.5 million tons at two terminals by 2014. Petronet, which built India's first LNG import terminal at Dahej in Gujarat, was created by the Indian government to import the cleaner fuel for the energy-hungry economy. It is building another LNG terminal, India's third, at Kochi in southern India with a capacity of 2.5 million tons. Dasgupta said the new terminal, along with an initial expansion of Dahej to 10 million tons, would be complete by 2009 or 2010. Petronet, which started operations at Dahej in 2004, imported 2.5 million tons of LNG in the year to March 2005 and has tied up about 5 million tons of imports this year.

27 Dec 2005

$700M LNG Timecharter Awarded

Petronet LNG Ltd (PLL) has awarded the $700 million time chartering contract for an LNG vessel to the Mitsui-led consortium of Shipping Corporation of India (SCI), NYK and SK Lines, according to a report on www.financialexpress.com. This 25-year contract is for carrying 2.5 million tonne per annum (mtpa) of LNG from RasGas of Qatar to PLL’s LNG re-gasification terminal at Dahej in Gujara. Bids for the contract were opened on December 24 where the Mitsui-led consortium emerged as the lowest bidder, outbidding the Exmar Marine led consortium of Varun Shipping and another consortium of Teekay Shipping and GE Shipping. (Source: www.financialexpress.com)