Petronet to Lease Out Kochi LNG Storage

India's Petronet LNG has invited bids to lease a part of storage capacity of its Kochi LNG terminal for a period of two years in order to utilize the unused capacity, the company said in a notice.

Kochi terminal has a capacity of 5 million ton-a-year. The terminal has two LNG storage tanks of nearly 182,000 cubic meters gross capacity each and regasification facilities to regasify 5 million tons per annum LNG.

Petronet LNG Ltd. set up its first LNG terminal at Dahej in Gujarat with the capacity of 10 million metric tons per year. Capacity of Dahej terminal will expand to 15 million tons per year till end of 2014.

The company is planning to set up its third LNG terminal with capacity 5 million tons per year probably in the state of Andhra Pradesh. It is expected that by 2016 Petronet LNG's total operating capacity will be 25 million tons per year.