India's supply of liquified natural gas (LNG) is set to expand as Petronet, the country's largest LNG importer, seeks $1 billion to expand its import capacity.
Petronet intends to use $600 million to build a terminal on the country's east coast and the remaining $400 million to expand a facility on the country's west coast, Petronet Finance Director R.K. Garg told Bloomberg Tuesday. The company has yet to borrow the full amount of the two projects.
The construction of the east coast terminal in Andhra Pradesh state is expected to cost roughly $900 million. The expansion of the Dahej facility in the western state of Gujarat will cost an estimated $600 million.