India's Petronet plans to trade LNG via Singapore unit

Petronet LNG

13/02/2025 10:53

By Nidhi Verma
       NEW DELHI, Feb 13 (Reuters) - India's top gas importer
Petronet LNG  PLNG.NS  plans to trade liquefied natural gas
(LNG) through its Singapore-based unit, CEO A K Singh said on
Thursday.
    The company will not trade LNG cargoes procured under
long-term deals, he said in a press conference at the India
Energy Week. 
    "Right now, we are managing (LNG purchases) from here. At an
opportune time, we will start the (trading) operations," Singh
said.
    He said India's gas demand is set to rise three-and-a-half
times to meet the country's goal of having a 15% share of LNG in
the energy mix from 6.2% currently.
    Separately, Petronet's head of finance, Vinod Kumar Mishra,
said the firm has mandated SBI Caps to arrange 140 billion
rupees ($1.61 billion) of debt for its new petrochemical project
that costs 200 billion rupees.

($1 = 86.8600 Indian rupees)

 (Reporting by Nidhi Verma in Bengaluru; Editing by Sonia
Cheema)
 ((Yagnoseni.Das@thomsonreuters.com;))