Profit Sheets

Petronet LNG Ltd seeks fresh foray into the petrochemical business

September 13, 2021 12:24 PM

Petronet LNG seeks fresh foray into the petrochemical business
Petronet LNG Ltd had some years back planned to set up a terminal at Gangavaram in Andhra Pradesh for import of supercooled gas in ships

Petronet LNG Ltd, India’s largest gas importer, is looking to reclaim the lost opportunities of the past decade as it seeks fresh foray into the petrochemical business and plans to set up an LNG import facility on the east coast.

Oil Secretary Tarun Kapoor, who is also the Chairman of Petronet, in the firm’s latest annual report said the company is looking at setting up a floating terminal at Gopalpur port in Odisha and “is embarking upon a major diversification drive to broad base its business activity and is exploring to have an ethane/ propane import facility at Dahej terminal”.

Petronet LNG Ltd had some years back planned to set up a terminal at Gangavaram in Andhra Pradesh for import of supercooled gas in ships. The company management stopped pursuing that terminal in 2015-16 on grounds that there isn’t enough demand to justify a 5 million tonnes a year import facility.

Also Read: Central Board of Direct Taxes sweetens Air India privatisation offer

Gangavaram would have been the first terminal on the east coast as Petronet owns and operates facilities at Dahej in Gujarat and Kochi in Kerala. Soon after that Adani Group began work to set up a 5 million tonnes a year import terminal at Dhamra port in Odisha.

Petronet now sees that there is demand for gas in the eastern region and despite the Dhamra LNG terminal, it is now looking for a facility at Gopalpur, a source said. Similarly, the company is trying to recapture the lost opportunity in the petrochemical sector.

Petronet’s long-term contract for import of liquefied natural gas (LNG) from Qatar provided for supply of 5 million tonnes a year of rich gas or gas containing ethane and propane – compounds used to make petrochemicals.

Leave a comment

Market Live Updates


Intraday Tips
Stock Name Open Price Trend Details
Reliance 1930.10 Buy  Click Here
Asian Paints 2577.00 Buy  Click Here
HDFC 2448.00 Buy  Click Here
HDFCAMC 2790.00 Buy  Click Here
TCS 3120.00 Buy  Click Here



NSE Top Gainers/Losers
COMPANY LTP %CHNG VOLUME
ONGC 135.10 5.14 4,03,32,961
JSWSTEEL 660.50 4.31 84,34,405
INDUSINDBK 1,135.90 4.22 40,49,393
BAJFINANCE 7,591.25 2.00 8,17,841
UPL 722.90 2.45 31,22,653
COMPANY LTP %CHNG VOLUME
MARUTI 6,784.50 -2.39 7,54,854
AXISBANK 784.85
-1.38
55,25,654
HEROMOTOCO 2,839.30 -1.74 4,04,569
BPCL 415.50
-1.17
66,91,530
BAJAJ-AUTO
3,715.40
-1.61 2,10,350