Petronet LNG Ltd, India’s biggest importer of liquefied natural gas (LNG), is diversifying into shipping by taking a stake of up to 49% in the venture planned to haul gas to its new regasification terminal coming up at Kochi in Kerala, Daily Shipping Times reports.
The diversification plan was unveiled in the tender floated by Petronet for selecting shipowners and operators for transporting LNG to the Kochi terminal, which is scheduled to become operational in 2014.
The Kochi terminal will have a capacity for 5 million tonnes per annum (mtpa) of LNG. Regasification is the process by which LNG is heated and converted into a gaseous state.
“This is a diversification plan,” said Sanjay Gupta, Vice-President, shipping, at Petronet LNG.
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