India: Petronet LNG Posts Profit Rise

Petronet LNG of India, the country’s largest LNG importer, posted a net profit of Rs. 2708.50 million for the quarter ended June 30, a 5.5 percent rise compared to the same period last year.

Total income has increased from Rs. 46464.10 million for the quarter ended June 30, 2011 to Rs. 70570.10 million for the quarter ended June 30, 2012.

Petronet LNG has set up the country’s first LNG receiving and regasification terminal at Dahej, Gujarat, and is in the process of building another terminal at Kochi, Kerala.

While the Dahej terminal has a nominal capacity of 10 MMTPA, the Kochi terminal will have a capacity of 5 MMTPA.

1 Indian rupee = 0.018028 U.S. dollars

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LNG World News Staff, August 1, 2012; Image: Petronet LNG