Petronet exploring long-term LNG deal indexed to spot prices

PetronetNSE -1.98 % LNG, India’s largest natural gas importer, said its business has quickly recovered from the lockdown lows and both its regasification terminals are operating at their highest rate.

“As of today, both our terminals at Dahej and Kochhi are drawing the highest. It’s a V kind of rebound, which has happened,” said Petronet LNG CEO Prabhat Singh.

Petronet’s LNG regasification terminal at Dahej in Gujarat is operating at more than 100% capacity. It has a nameplate capacity of 17.5 million tonnes per year. Another terminal at Kochhi, which has 5 million tonnes a year capacity, usually operates at a very low capacity due to the absence of pipeline connecting customers. During lockdown, capacity utilisation had fallen to about two-thirds at Dahej for some days.