AsiaCorporateLNG Terminals

India’s Petronet LNG reports higher profit, volumes

By LNG Prime Staff
India's Petronet LNG reports higher profit, volumes
For illustration only (Image: Petronet LNG)

India’s Petronet LNG reported a slight rise in its quarterly profit and higher volumes at the company’s two regasification terminals.

Profit after tax or PAT reached 11.91 billion rupees ($143.2 million) in the October-December quarter, a rise of 0.9 percent when compared to 11.8 billion rupees in the same quarter in 2022.

PAT also rose when compared to 8.18 billion rupees in the prior quarter.

India’s largest LNG importer said its profit before tax or PBT rose to 15.97 billion rupees compared to 15.86 billion rupees in 2022 and also from 11 billion rupees in the prior quarter.

During the October-December quarter, Petronet’s 17.5 mtpa Dahej terminal processed 218 TBtu of LNG. This compares to 154 TBtu in the same quarter in 2022 and 210 TBtu in the previous quarter.

Including the 5 mtpa Kochi facility, the overall LNG volumes reached 232 TBtu. This compares to 167 TBtu in the same quarter in 2022 and 223 TBtu in the previous quarter.

During the nine months ended December 31, 2023, the Dahej terminal processed 646 TBTU of LNG as against 532 TBTU during the corresponding period in 2022, while Petronet’s total volumes reached 685 TBTU, and compares to 567 TBTU in the same period in 2022.

Petronet said the “robust financial performance” of the current quarter and nine months was achieved due to efficiency in operations and higher capacity utilization of the Dahej LNG terminal.

Most Popular

Contracts and Tenders

First Nations invest in LNG Canada pipeline

Canada's TC Energy, operator of the LNG Canada pipeline, said it had closed an agreement with FN CGL Pipeline, an Indigenous-led investment entity representing five First Nations along the Coastal GasLink corridor.
LNG Terminals

Germany’s HEH offers additional Stade LNG long-term capacity

Germany’s Hanseatic Energy Hub will offer additional long-term capacity to the market at its land-based liquefied natural gas (LNG) terminal in Stade.
LNG Terminals

PetroChina delivers first LNG cargo to Gate under long-term capacity deal

PetroChina International, a unit of state-owned PetroChina, has delivered its first LNG cargo to the Dutch Gate LNG import terminal in Rotterdam, owned by Gasunie and Vopak, under a long-term capacity deal.

More News Like This

Corporate

Petronet LNG names new CEO

India’s largest importer of liquefied natural gas (LNG), Petronet LNG, has appointed Sanjay Kumar as its new managing director and chief executive officer, effective May 2027.
Other Fuels

India’s Petronet LNG to form JV to build CBG plants

India's largest liquefied natural gas importer, Petronet LNG, has approved a 50/50 joint venture with compatriot Gruner Renewable Energy to establish 10 compressed biogas (CBG) plants in India.
LNG Terminals

India’s LNG imports almost flat in August

India’s liquefied natural gas (LNG) imports were almost flat in August, down just 0.11 percent from the same month last year, according to preliminary data from the oil ministry’s Petroleum Planning and Analysis Cell.
LNG Terminals

Petronet’s Dahej terminal gets 4000th LNG cargo

India’s largest liquefied natural gas importer, Petronet LNG, has received the 4,000th LNG shipment at its Dahej import terminal in western Gujarat state.