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Motilal Oswal Report
In Q1 FY21, Petronet LNG Ltd.’s better-than-estimated volumes at 190 trillion British thermal units (up 5% versus estimate), led to marginal Ebitda beat at Rs 9 billion.
The company has given an update on its current operations, highlighting that post lifting of the lockdown, regasified liquefied natural gas demand has recovered gradually.
Since the first week of June 2020:
a) Dahej terminal is operating at 100% capacity of 17.5 million metric tonne per annum (63 million metric standard cubic meter per day versus January-February 2020 average of 92% capacity of approximately 58 mmscmd)
b) Kochi terminal is operating at 20% capacity of approximately 3.57 mmscmd.
Various power plants are switching off coal due to the current lower spot gas price environment, resulting in higher gas offtake and imports.
Negotiations with Qatar Gas over liquefied natural gas pricing are ongoing.
Petronet LNG has indicated that a final decision on the memorandum of understading with Tellurian Inc. could be reached in FY21.
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