Petronet eyes new start in petrochemical business – Petronet eyes new start in petrochemical business
The company is also looking at setting up an LNG import facility on the East Coast to recoup the opportunities lost during the past decade.
Petroleum Secretary and Petronet Chairman Tarun Kapoor said in the company’s latest annual report that the company is preparing to set up an “floating terminal on the sea” at Gopalpur port in Odisha.
In addition, to broaden its business activities, the company is undertaking a major diversification drive and is exploring the possibility of developing an Ethane/Propane gas import facility at Dahej Terminal in Gujarat.
Petronet had a few years ago planned to set up a terminal at Gangavaram in Andhra Pradesh for import of supercooled gas from ships.
The company management, however, discontinued the plan in 2015-16 due to insufficient demand for an import facility of 5 million tonnes per annum.
The same source said that Petronet now feels that there is a demand for gas in the eastern region, so despite the Dhamra LNG terminal, the company is now looking to set up a facility at Gopalpur.
Similarly, the company is trying to recover the missed opportunity in the petrochemicals sector.
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