Petronet has decided to lease out half of the capacity of its regasification terminals in Dahej and Kochi (India) from 2017, due to high prices that cut demand. The company has signed to lease a total 6 Mt/year capacity at the Dahej LNG terminal from 2017 to GAIL, Indian Oil Corp, Bharat Petroleum Corp and the GSPC Group. Petronet will also lease 1.25 Mt/year of capacity to GSPC from April 2014 for 20-year. The capacity of the Dahej terminal will be expanded from the current 10 Mt/year to 15 Mt/year by late 2016 and could be raised to 20 Mt/year if required (expansion already approved). In Kochi, the 5 Mt/year LNG import facility commissioned in September 2013 operated at just 5% of its capacity in the last quarter (October-December) of 2013, as pipelines carrying the gas to customers are not yet ready. Leasing out one of the two storage tanks will enable to make the under-utilised facility commercially viable.
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