Petronet LNG Plans $3 Billion Investment In Overseas Push – Feedback

India’s biggest gas importer Petronet LNG aims to spend up to $3 billion in the next five years to expand overseas, setting up terminals in Bangladesh and Sri Lanka among other countries, its managing director said.

Falling spot LNG prices have boosted consumption of the fuel in India and triggered demand for LNG infrastructure in countries long shut out of the gas trade. “We are thinking global and we are not looking inwardly only at India … we have potential and we should aim for Rs 3,000 billion-4,000 crore ($445 million-$596 million) worth of projects every year for five years,” Prabhat Singh told Reuters in an interview. Petronet has previously just focused on importing liquefied natural gas (LNG) for regasification at its plants at Dahej in Gujarat and at Kochi in Kerala.

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