Petronet Seeks Dahej Expansion

Petronet LNG Ltd. may reportedly spend $600 million to expand its terminal by 50% to 15 million metric tons a year by December 2015.

R.K. Garg, Finance Director, Petronet LNG said the company may raise $400 million as debt, while potential users of the expanded terminal at Dahej in Gujarat state, including GAIL India Ltd. and Gujarat State Petroleum Corp., may fund the remainder.

The company is seeking as much as 2 million tons a year of long-term LNG contracts for its under-construction terminal at Kochi in the south Indian state of Kerala.