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India's Petronet LNG proposes pipe-borne gas to Sri Lankan households

Jun 01, 2017 15:52 PM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Petronet LNG, India's largest importer of liquefied natural gas, is to invest in an LNG import terminal in Sri Lanka that will enable supply of pipe-borne gas to households.

Petronet’s plans were discussed at a meeting between Minister of Industry and Commerce Rishad Bathiudeen and a Confederation of Indian Industry (CII) delegation including Deputy Manager of Petronet LNG Ltd Manik Jhamb.

“Our proposal for Sri Lanka envisages an operation where we will supply clean LNG,” Jhamb was quoted as saying in a statement.

“We will revolutionise the supply system here in that we will introduce pipe-borne LNG supply to households, thereby removing the need for use of cylinder based method. It’s a large scale project.”

Petronet’s promoters are gas transmission firm GAIL India, explorer Oil and Natural Gas Corp, and refiners Indian Oil Corp and Bharat Petroleum Corp Ltd - each with a 12.5 percent stake, while GDF Suez, Europe's largest LNG importer, is the strategic partner with a 10 percent stake.

Petronet Managing Director Prabhat has said the firm has proposed setting up a million-tonne terminal in Sri Lanka.

Petronet has proposed to set up a million-tonne floating LNG import terminal at Kerawalapitiya, near Colombo, from which gas can be supplied to nearby power plants.
(COLOMBO, June 01, 2017)


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