Union Oil Minister M Veerappa Moily informed that India may have LNG re-gasification capacity of over 50 million tonne per annum by 2016-17 with a supply of 198 million standard cubic meters per day.
Currently, India has 18.6 mn t of re-gasification capacity - 10 mn t terminal at Dahej and 3.6 mn t plant at Hazira in Gujarat and 5 mn t terminal at Dabhol in Maharashtra.
He said this while addressing the third IEF NOC-IOC Forum. He said a lot of capacities are being created in India and huge numbers of supply deals have been there.
A 5 million tonne capacity terminal is to be commissioned in Kochi in Kerala this year. LNG terminals are being planned on the east coast as well.
He further informed that India is holding talks to buy as much as 20 million tonne a year of liquefied natural gas or LNG but price of over $10 remains a challenge.
Moily said India has now become fifth largest importer of LNG after Japan, South Korea, UK and Spain and accounts for 5.5 per cent of the total trade.
With LNG demand expected to grow at 5-6 per cent per year till 2020 and 2-3 per cent thereafter, India along with other Asian counterparts is driving this growth, he said. India already has secured supply deal of around 14 million tonne per annum (of LNG) and around 20 million tonne deals are in the pipeline.