Petronet LNG expects its 400-km pipeline connecting the Kochi LNG terminal in the south to industries further north to be ready in two years, according to Managing Director Prabhat Singh. Petronet LNG is India’s biggest gas importer.
The Kochi terminal, which will supply LNG to Karnataka, will run at 40 per cent capacity by 2019, Singh said on the sidelines of the Vibrant Gujarat investment summit.
The terminal will make an expected loss of $51.22 million in the current financial year, but it will swing to a profit of Rs 2 billion in the financial year to March 2019, he added.
Singh added that Petronet was also in discussions with a few more companies to rent out more LNG storage capacity at the Kochi terminal.