Indian Petronet Company announced that its is preparing to expand its businesses to include bunkering, compresses biogas and renewable energy targeting to change energy landscape but at the same time not diluting its focus on its core LNG portfolio, S&P Global Platts reported.
Company officials and analysts stated that this target is part of the company’s effort to broaden its domestic presence and expand its international footprint. They elaborated that Petronet will expand its businesses across the LNG value chain offering services like providing LNG as automotive fuel, LNG supply for mining activities and compressed bio gas and LNG bunkering.
Sumit Pokharna, vice president at Kotak Securities said that “A lot of other state-run companies are also diversifying to other forms of energy. It’s a push by the government. Petronet is also joining the efforts but the new initiatives by Petronet will be small, to begin with, if you compare them with their LNG business,”
Petronet plans to have ethane import facility at Dahej, floating storage regasification unit (FSRU) at Gopalpur. It also plans to expand internationally and cater to LNG and related infrastructure in Sri Lanka, Maldives, Bangladesh, Myanmar and Mauritius.