Page 138 - CW E-Magazine (14-11-2023)

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PETROCHEMICALS

Petronet LNG to import ethane and invest in PDH unit

Petronet LNG Ltd, (PLL), India’s a 5-mtpa import facility at Kochi in
biggest liquefi ed natural gas (LNG) Kerala, and is now eyeing a third
importer, will invest Rs. 20,685-crore import facility on the east coast. A fl oating
in setting up a petrochemical plant at 4-mtpa LNG import terminal on high-
Dahej, Gujarat as it looks to diversify seas off the Gopalpur coast is planned
the business as a hedge against volati- to cater to the increasing gas demand
lity in energy markets. Petronet will use of the eastern and central parts of the
imported ethane to make chemicals that country. The fl oating storage regasifi -
are the building blocks for a range of cation unit (FRSU)-based terminal may
products – from plastics to detergents be converted into a land-based terminal
and cosmetics. of 5-mtpa capacity, depending on the
also accorded approval for the exe- demand.
At a media call post announcing cution of a binding term sheet with
the second quarter earnings, Petronet Deepak Phenolics Ltd. (DPL) for the 9% rise in quarterly net profi t
Chief Executive, Mr. A.K. Singh said offtake of 250-ktpa of propylene and Meanwhile, PLL has reported a
the project, which will be built over 11-ktpa of hydrogen from the project 9% rise in the September quarter con-
the next four years, will have unique for a period of 15 years. The propy- solidated net profi t on higher capa-
synergies with the adjacent LNG import lene will meet the propylene require- city utilisation of the Dahej terminal.
facility – India’s largest – and will ment of DPL’s phenol-acetone plant Net profi t rose to Rs. 855.74-crore in
improve the company’s top-line and at Dahej. July-September, compared with Rs.
bottom-line substantially. 785.73-crore in the same period a year
LNG import expansion ago. Revenue was, however, down
The petrochemical project will also PLL is also raising the LNG import 21.6% at Rs. 12,532.57-crore on lower
consist of a 750-ktpa propane dehydro- capacity of the Dahej terminal from gas prices.
genation plant (PDH) and a 500-ktpa 17.5-mtpa to 22.5-mtpa at an estimated
polypropylene (PP) plant. cost of Rs. 600-crore. It will also add LNG import volumes at Dahej rose
two LNG storage tanks to the pre- to 210 trillion British thermal units
Propylene sale to Deepak Phenolics sent six tanks at Dahej at a cost of (TBtus) in Q2FY23, from 182 TBtus in
The board of directors of PLL Rs. 1,250-crore. Besides Dahej, PLL has the year-ago period.
ARBITRATION

Ganesh Benzoplast receives favourable award

from ONGC

Ganesh Benzoplast Ltd. (GBL) has in huge operating and financial
received an arbitration award in its loss to GBL.
favour, in the arbitration matter going on
with Oil and Natural Gas Corporation The order was passed by the
Limited (ONGC). Arbitral Tribunal on October 31,
2023 in favour of GBL and direc-
The arbitration was filed by the ted the ONGC to pay US$1,355,500
Company in 2014 against ONGC for and Rs.30,40,900 towards cost and
premature termination of the con- damages, with interest @12% per
tract for Operation, Maintenance and cal & Diving Services for the vessel, annum from the date of the sward till
Management of Marine Geotechni- GTV Samudra Sarvekshak, resulting the date of payment of amount.

138 Chemical Weekly November 14, 2023

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