Petronet LNG Ltd

Summary

Petronet LNG Limited, one of the fastest growing world-class companies in the Indian energy sector, has set up the countrys first LNG receiving and regasification terminal at Dahej, Gujarat, and another terminal at Kochi, Kerala. While the Dahej Terminal has a nominal capacity of 17.5 MMTPA, the Kochi Terminal has a capacity of 5 MMTPA. Petronets Terminals today account for around 40% gas supplies in the country and handle around two third of LNG imports in India. Formed as a Joint Venture Company by the Government of India to import LNG and set up LNG terminals in the country, it involves Indias leading oil and natural gas industry players. The Company Promoters are GAIL (India) Limited (GAIL), Oil & Natural Gas Corporation Limited (ONGC), Indian Oil Corporation Limited (IOCL) and Bharat Petroleum Corporation Limited (BPCL).Petronet LNG was incorporated in 2nd April, 1998 to import LNG and set up LNG terminals in the country. The consortium led by Mitsui OSK Lines Limited of Japan received shipping time charter contract from the Company in the year 2002-03 for 2 LNG vessels of 1,38,000 cu.m capacity each. The construction of second LNG taker named Indhan commenced with the steel cutting in 6th May of the year 2003. The Company successfully commissioned Indias first LNG receiving and regasification terminal at Dahej in February of the year 2004. Asian Development Bank (ADB) acquired 5.2% equity stake in Petronet LNG in the year 2004, in the same year, the company inked debt... Read More