Petronet may let out Kochi facility.

Petronet LNG may let out its liquefied natural gas (LNG) storage facility at Kochi to an international operator to improve utilisation.

The 5-million-tonne-a-year terminal is operating at just 5 per cent of its total capacity posing a heavy burden to the company, as it is not connected with pipelines' network.

AK Balyan, Managing Director and CEO, said the LNG terminal may be let out to an 'international operator for storage and reloading.'

'We will now come out with an expression of interest. We can give them capacity of around 2 million tonnes initially…let's see if it can be for two-three years,' Balyan told reporters.

HBL