Kerala - Kochi   

LNG terminal waiting for customers

By Our Staff Reporter

KOCHI, AUG. 19. The Chairman and Managing Director of Petronet LNG Limited, Suresh Mathur, said here today that the company would start work on the proposed liquefied natural gas (LNG) terminal at Puthuvypeen once the agreements for purchase of 60 per cent of the gas were signed. "We need committed buyers. We are ready to take the risk for the remaining 40 per cent," Mr. Mathur told a press conference.

He said that it would be possible to make imported LNG available here at the same rate as in Qatar. Currently, it is available with Rasgas, Qatar, for $ 2.53 per million Btu, said Mr. Mathur.

He said natural gas in liquid form could be brought here using special vessels. A ship is expected cost Rs. 800 crores.

He said Petronet had completed all pre-project works. The Cochin Port Trust has already given 40 hectares of land for the purpose. Various studies, including physical and mathematical, have been done. Bodies monitoring pollution and other environmental concerns have cleared the project, he said, adding organisations like the Indian Navy and Cochin Port Trust too had given their nod. A sum of Rs. 25 crores had already been spent, he said.

Mr. Mathur said his meeting with the Chief Minister, A.K. Antony, in Thiruvananthapuram yesterday had been a success. "The Chief Minister has assured full support," he said.

He sought reduction in sales tax, inclusion of the project in the Special Economic Zone, and waiving of the existing five per cent customs duty. He said the Gujarat Government had reduced sales tax from 24 per cent to 12 per cent. Petronet has set up an LNG plant at Dahej, Gujarat, with a capacity of 20 million standard cubic metres.

Though NTPC was a valued customer, Mr. Mathur said the company was looking for independent customers. He welcomed equity participation from the State Government.

He said the project, estimated to cost Rs. 1,600 crores, could be completed in 36 months.

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