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Petronet LNG to strengthen ties with Papua New Guinea

Petronet LNG  celebrated its 16th Foundation Day in the capital, inviting a distinguished delegation from Papua New Guinea to participate in the festivities. William Duma, Papua New Guinea’s Minister of Petroleum and Energy, was the chief guest on the occasion.

The others included Petroleum and Natural Gas Minister M Veerappa Moily, Petroleum & Natural Gas Secretary Vivek Rae,  ONGC CMD Sudhir Vasudeva, GAIL CMD B C Tripathi and Petronet LNG MD & CEO Dr A K Balyan.

Speaking on the occasion, Moily congratulated the present and former CMDs and employees of Petronet LNG, for the great task theyhave done in making Petronet what it is today. Rae welcomed the Papua New Guinea delegates and said, ‘With a growing economy like ours, all eyes are on India and looking at the growing energy requirements both in India and internationally, there is huge scope for expansion of capacity to set up LNG terminals to source LNG from India and abroad. One of my strategic priorities is to diversify our sources of oil and gas so we don’t put all our eggs in one basket and for this specific reason, we have been scouting for opportunities in Latin America, Asia Pacific, Canada and America and it is in this context we look for a long-term relationship with Papua New Guinea as well.’

Balyan noted that Petronet LNG has set up the country’s first LNG receiving and regasification terminal at Dahej, Gujarat, and is in the process of building another terminal at Kochi, Kerala.

While the Dahej terminal has a nominal capacity of 10 MMTPA (equivalent to 40 MMSCMD of natural gas), the Kochi terminal will have a capacity of 5 MMTPA (equivalent to 20 MMSCMD of natural gas), he added.

Duma, in his lecture on the occasion, said, ‘At the outset, I take this to thank Petronet LNG for inviting me and my delegation from Papua New Guinea to speak at this prestigious occasion. Members of my delegation and I had the opportunity to visit the world-class facilities of ONGC, oil rigs in Bombay High and Dahej Terminal. I would like to conclude by saying that maybe one day, you will be unloading gas from my country.’
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