Profit for the quarter ending 31 December dropped due to lower capacity utilisation of the recently-commissioned Kochi LNG terminal and decreasing appetite for costlier spot liquefied natural gas (LNG) in the country.
Petronet’s Kochi terminal is operating at 5% of its installed capacity of 5 million tonnes per annum, primarily due to delays in execution of associated pipeline network.
The two major pipelines connecting Kochi to Bangalore and Mangalore continue to face further delays, owing to local protests and issues related to land acquisition.
The
