Petronet ready to alter its terminal plans for early LNG supply to companies

HYDERABAD: Petronet LNG, which is setting up an on-shore regassification terminal at Gangavaram in Andhra Pradesh, said it is ready to change plans and construct a floating terminal if customers want early supplies.

India’s largest importer of liquefied natural gas – building its first LNG terminal on the east coast and third overall – is in talks with several independent power producers and other potential LNG users for supply arrangements. Petronet LNG vice-president Sanjay Gupta said a majority of prospective customers expressed eagerness to buy immediately if the company were ready to supply.

“We can consider setting up a floating storage regassification unit if our customers want us to supply gas immediately. What we need is assured off-take of quantities and long-term arrangements,” he told ETon the sidelines of an event in Visakhapatnam.

Gupta said Petronet LNG would need contracts for supply of at least 2 mmtpa of gas to take a call on building a floating facility near Gangavaram Port. He added that Hindustan Petroleum Corporation, which was looking at picking up 8-12 per cent in the LNG venture, had agreed to draw a significant portion of gas for its refinery at Visakhapatnam from the facility.