India’s biggest LNG importer Petronet approved this week plans to create a bunkering unit as it looks to benefit from a rising fueling market in Asia.
The firm says its board approved on February 4 the creation of a wholly-owned unit to undertake activities including but not limited to LNG bunkering and gassing-up and/or cool-down and supply of heel to LNG vessels.
The new unit would also work in training, consultancy, other value-added marine, transport, and LNG services, Petronet said.
In addition, the registered office and the operational unit of the new company would be located at New Delhi and Puthuvypeen SEZ, Kochi, the firm said.
Petronet did not provide any additional information only saying that it would reveal more details after the incoporation of the new company.
Petronet operates the 17 mtpa Dahej LNG terminal in Gujarat, India’s first such facility, but also the 5 mtpa Kochi facility that recently received a boost with the inauguration of a long-awaited pipeline.
Kochi’s portfolio includes gassing-up and LNG bunkering services and Petronet completed its first bunkering operation at the facility back in 2015.
Some previous reports suggested that Petronet has also set its sight on an LNG bunkering vessel joining a growing number of companies looking to supply the fuel via a ship-to-ship method.