India’s Petronet LNG reports record quarterly volumes

India’s largest LNG importer Petronet LNG reported record quarterly volumes at its Dahej and Kochi regasification terminals.

During the May-June quarter, the Dahej LNG terminal processed highest ever 248 TBTU of LNG as against 219 TBTU during the previous quarter and 217 TBTU in the same quarter last year, marking a rise of 13 percent and 14 percent respectively, according to Petronet.

The Dahej terminal reached a capacity utilization of 109 percent in the current quarter, as against 97 percent in the previous quarter and 96 percent in the corresponding quarter.

The overall LNG volume processed by Perronet LNG in the May-June quarter was 262 TBTU, highest ever throughput volume for any quarter, Petronet said.

This compares to 234 TBTU and 230 TBTU in the previous and corresponding quarter, a rise of growth of 12 percent and 14 percent respectively.

Profit after tax or PAT reached 11.42 billion rupees ($136 million) in the quarter under review, a rise of 55 percent and 45 percent respectively compared to the previous and corresponding quarter.

India’s largest LNG importer said its profit before tax or PBT rose to 15.20 billion rupees compared to 9.96 billion rupees in the previous quarter and also from 10.62 billion rupees in the corresponding quarter.

The PBT and PAT of the current quarter are the highest ever reported by the company in the first quarter of any of the previous financial years, Petronet said.

Petronet said it was able to achieve “higher throughput and robust financial results owing to stable LNG prices, better capacity utilization of its terminals, and efficiency in its operations.”

Most Popular

BW upgrades LNG carrier

Oslo-based BW LNG, a unit of Singapore’s gas shipping giant BW, is upgrading its 2019-built LNG carrier BW Pavilion Aranda with a sub-cooler.

Malaysia’s MHB bags new LNG carrier repair jobs

Malaysia Marine and Heavy Engineering (MHB) has secured new contracts to repair liquefied natural gas (LNG) carriers.

Samsung Heavy bags orders for six LNG carriers

South Korean shipbuilding giant Samsung Heavy Industries has secured contracts worth $1.54 billion to build six liquefied natural gas (LNG) carriers.

More News Like This

India’s LNG imports drop in July

India's liquefied natural gas (LNG) imports dropped by 20.2 percent year-on-year in July, preliminary data from the oil ministry’s Petroleum Planning and Analysis Cell shows.

Petronet plans to complete Dahej LNG expansion by end of this year

India’s largest LNG importer, Petronet LNG, expects to complete work on an additional 5 mtpa capacity at its Dahej LNG terminal in western Gujarat state by the end of this year, according to Petronet LNG's management.

Petronet approves onshore Gopalpur LNG terminal

India’s Petronet LNG has approved an investment in a land-based LNG import terminal in Gopalpur, Odisha, instead of an FSRU-based facility.

India’s Petronet LNG logs lower profit, volumes

India’s largest LNG importer Petronet LNG, the operator of the Dahej and Kochi regasification terminals, reported lower quarterly profit and volumes.