NEW DELHI: Petronet LNG Ltd, a private company that was promoted by state-run oil companies as the lead vehicle for liquid gas business, has cautioned one of its promoters, refiner-marketer IndianOil, against duplicating infrastructure by setting up two gas import terminals in the east coast that could cost upward of Rs 9,000 crore.
In a letter to IndianOil chairman R S Butola, Petronet chief executive A K Balyan has argued it would make more economic sense for IOC to lease capacity in Petronet's terminals and import its own gas through it. Petronet, Balyan wrote, was ready to offer as much capacity as IndianOil wanted in its eastern terminals.
IndianOil is planning gas import terminals at Dhamra port in Odisha and Ennore in Tamil Nadu essentially to import gas for its own refineries. Petronet operates the country's biggest liquid gas import terminal at Dahej in Gujarat with a capacity to handle 10 million tonnes of LNG (liquefied natural gas) per annum. It is close to starting a 5 million tonne a year facility in Kochi in Kerala and another terminal with similar capacity on the Andhra coast in 2016.
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