Rs. 4,500-crore terminal materialises after eight years of sustained work
Kochi has taken its place on the world LNG map with Prime Minister Manmohan Singh dedicating a liquefied natural gas terminal here to the nation on Saturday. The Rs. 4,500-crore terminal, which started functioning four months ago, was officially launched at a function held at Puthuvypeen.
The project, with a capacity of 5 MMTPA (million metric tonne per annum), built by Petronet LNG Limited, materialised after eight years of sustained work by the Central and Kerala governments. Dr. Singh urged Chief Minister Oommen Chandy and Petroleum Minister Veerappa Moily to coordinate with all stakeholders to ensure that the full potential of the terminal was realised without delay.
The terminal would contribute to making Kerala an industry-oriented and investor-friendly destination, he said. It would also contribute to the efforts to promote clean energy and reduce carbon emissions, protecting Kerala’s environment.
The location was ideal to provide the whole of southern India a cleaner and greener form of energy for industries, transport and households. The gas could be utilised by a whole new industrial corridor expected to come up along the pipeline route. To make full use of the large investment, penetration of natural gas in Kerala should be increased by augmenting the pipeline network, in a manner similar to what had been done in the northern and western parts of the country, Dr. Singh said.
The country had less than one per cent of the world’s known natural gas reserves, necessitating import. Import of natural gas and pricing it were challenges.
Pointing out that Asia had been the driver of the global LNG demand in recent times, Dr. Singh said major buyers of LNG in the region should come together to demand a fair pricing mechanism. “I hope to see India contribute towards an effort of this kind in the future.”
Mr. Moily urged Mr. Chandy to ensure pipeline connectivity for optimum utilisation of gas. He said 15,000-km of pipeline had been laid at various places in the country and efforts were under way to cover another 16,000 km.
‘The terminal will contribute to making Kerala an industry-oriented & investor-friendly destination’ ‘Major buyers of LNG in Asia should come together to demand a fair pricing mechanism’
‘The terminal will contribute to making Kerala an industry-oriented & investor-friendly destination’
‘Major buyers of LNG in Asia should come together to demand a fair pricing mechanism’