India's Petronet Plans $1 Billion LNG Terminal

India's Petronet LNG Limited is looking to invest nearly $1 billion to set up its third LNG terminal, a 5 million tonnes facility in the east coast of the country.

The company is building its second LNG terminal of 5 mtpa in Kochi, which is expected to be operational by November-December, 2012.

AK Balyan, Managing Director and CEO of Petronet LNG, said that company was targeting to achieve re-gasification capacity of 25 million tonnes by 2016.