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The binding transaction documents include sub-concession agreement, sub-lease deed and port service agreement.
The company will set up Floating Storage Regasification Unit (FSRU) based LNG terminal with capacity of around 4 million metric tonnes per annum (MMTPA) (phase-1), with provision for converting to 5 MMTPA land-based terminal at Gopalpur Port, Ganjam, Odisha.
The firm said that it is in process of setting up its maiden LNG terminal on the east coast of India at Gopalpur, District- Ganjam, Odisha which would bring augmentation in overall regasification capacity in the country thereby contributing towards gas based economy.
Petronet LNG is an energy company that carries out operations in the midstream sector. The company regasifies the imported LNG and supplies to its clients including refineries, city gas distributors, oil and gas, fertilizer and power companies and others.
The company’s consolidated net profit increased 8.9% YoY to Rs 855.74 crore in Q2 FY24. Net sales declined 21.6% to Rs 12,532.57 crore in Q2 FY24 as compared with Rs 15,985.73 crore posted in Q2 FY23.
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