Petronet LNG seeking propane bids by March for Dahej petchem unit, executive says
Petronet LNG seeking propane bids by March for Dahej petchem unit, executive says By Nidhi Verma
GOA, India, Oct 28 (Reuters) - India's top gas importer Petronet LNG PLNG.NS will seek initial bids by March to buy 1 million metric tons per year of propane from mid-2028 for its petrochemical unit in western India, its Chief Executive Akshay Kumar Singh said on Wednesday.
Petronet's 750,000-ton-per-year petrochemical plant at Dahej will be commissioned in 2027-28, Singh said at an industry event.
Petronet was earlier planning to seek bids from Middle Eastern producers but due to the disruption in supplies from the region triggered by the Iran war, the company is now open to seeking supplies from the United States as well, he said.
Singh said Petronet LNG is building storage capacities to hold 3 million tons of ethane and propane each. The storage will be built by 2028.
"We are building additional storage capacity so that we can buy ethane and propane for other users in the country," he said.
(Reporting by Nidhi Verma; Editing by Christian Schmollinger)
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