Petronet eyeing Lankan market

Petronet LNG, India's biggest gas importer is eyeing the Sri Lanka market.

It is planning a new terminal in the East coast and aims to double imports of the fuel as its braces for serious competition from the proposed gas marketing joint venture of global major BP and Reliance Industries.

Petronet, which set up India's first LNG terminal about a decade ago, also plans to sell gas using cryogenic trucks directly to consumers in regions not connected by pipelines of GAIL India, one of its promoters, to boost profitability of the company, the company's managing director and CEO AK Balyan told ET.

The company targets to double its liquefied natural gas (LNG) business in next five years from current about eight million tonne per annum by expanding existing infrastructure and adding new capacities, he said.

economictimes