NEW DELHI, July 30 State-run gas utility GAIL
India Ltd will commission its LNG terminal in Dabhol,
on the Indian west coast, in October or November, its chairman
B.C. Tripathi said on Monday.
The terminal will operate initially at about 2.5 million
tonnes a year, half of its installed capacity, Tripathi said.
With gas demand expected to grow at 14 percent in the next
five years, Asia's third-largest economy is scouting for
long-term LNG contracts, and aims to increase its LNG handling
capacity to 50 million tonnes a year by 2017 from 13.5 million
Tripathi said GAIL will soon conclude a two-to-three-year
deal to buy liquefied natural gas (LNG).
"The volume would be almost a million tonne (per year)."
He also said the state-run utility hopes to finalise $450
million in foreign loans in a month's time.
(Reporting by Nidhi Verma; Editing by Anupama Dwivedi)