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Petronet LNG to infuse Rs 40,000 cr

Thursday, 10 Feb 2022
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Petronet LNG has readied an ambitious Rs 40,000 crore capex spread over the next five years. This includes both domestic as well as overseas capex plans.

Petronet plans to foray into the petrochemical business by investing Rs 12,500 crore in a Propane Dehydrogenation plant and Rs 1,600 crore for setting up a floating LNG import facility at Gopalpur in Odisha. The propare plant will convert imported feedstock into propylene.

The company is also looking to invest in overseas projects such as gas fields that feed into plants turning the fuel into liquid (LNG) and liquefaction plants.

On domestic front, Petronet will invest Rs 600 crore in raising the capacity of the Dahej LNG import terminal in Gujarat to 22.5 million tpa from the current 17.5 million tpa, Rs 1,245 crore in building an additional storage tank and bays for truck loading of LNG.

Petronet will also set up a four million tpa floating storage & regasification (FSRU)-based LNG import facility off the Gopalpur port that later will be turned into a land-based terminal with a higher five million tonne capacity.

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