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

Venture Global charters LNG carrier duo

Venture Global has executed two short-term charters for additional LNG tankers. The vessels were delivered in August and September 2024,...

Hudong-Zhonghua launches two LNG tankers

Chinese shipbuilder Hudong-Zhonghua has launched two 174,000-cbm liquefied natural gas (LNG) carriers. According to a statement by Hudong-Zhonghua, the launching...

UAE’s Adnoc, Thailand’s Gulf ink LNG supply deal

State-owned Adnoc said on Monday that Adnoc Trading's LNG desk has recently signed a supply agreement with Thaliand's Gulf...

More News Like This

India’s monthly LNG imports continue to increase

The country imported 2.94 billion cubic meters, or about 2.2 million metric tonnes, of LNG in November via long-term...

HPCL’s Chhara LNG terminal to get commissioning cargo in December or January

In April this year, the 2015-built 159,800-cbm, Maran Gas Mystras, arrived at the 5 mtpa LNG terminal in the Chhara port...

India continues to boost LNG imports

The country imported 2.93 billion cubic meters, or about 2.2 million metric tonnes, of LNG in October via long-term...

Toyo Engineering secures contract for third Dahej LNG jetty

Toyo Engineering India has been awarded the engineering, procurement and construction (EPC) contract for the topside facilities of the...