Petronet Looks for Foreign Partner for Gangavaram LNG Terminal

Petronet LNG is looking to offer a stake in its proposed LNG terminal at Gangavaram Port in Andhra Pradesh to a foreign gas supplier to secure the commodity on a long-term basis and cater to the growing domestic demand.

DNA newspaper has reported that Petronet intends to keep a majority stake, part stakes will be offered to a supplier, Hindustan Petroleum and to the Gangavaram port.

The terminal will have a re-gasification capacity of five million tonne per annum (mtpa) LNG re-gasification capacity and is expected to be complete by 2016.

Gangavaram will be Petronet’s third LNG terminal after 10 mtpa of Dahej in Gujarat and 5 mtpa Kochi in Kerala (to be commissioned shortly). Gangavaram would take Petronet’s total regasification capacity to 20 mtpa, or 80 million metric standard cubic metres per day of gas.