Petronet LNG may have to give up Kerala project, says CEO.

Petronet LNG has said it may have to drop the LNG pipeline project in Kerala if outstanding procedural issues are not dealt with in a time-bound manner.

AK Balyan, MD and CEO, had discussions here with Chief Minister Oommen Chandy, his Cabinet colleagues and officials on the delayed project that links Kochi with Bangalore and Mangalore.

The target was to complete the project by May 27, Balyan said. Even assuming that the Puthuvype terminal operated at only 30 per cent, it would still earn the State Rs. 900 crore to Rs. 1,000 crore annually.

Project executor GAIL India had received approval for laying 1,114-km pipeline at an investment of around Rs. 3,000 crore. Of this, 505 km had been proposed to cut through seven districts of the State.


HBL