Petronet LNG Ltd is planning to set up its third terminal in the east coast of India. After the terminals at Dahej and Kochi in the west coast, the third one will come up at Gangavaram in Andhra Pradesh. The board has given sanction for the project. It has entrusted French consultant Tractabel for preparing the detailed feasibility report. The approximate cost of the 5 million tones capacity terminal will be Rs 4500 crore. The 5 million tonne Kochi terminal of Petronet LNG will be ready by July and will be operational by October. The terminal has a long term contract for the supply of about 1.5 million tones of LNG from Gorgon in Australia from 2015. The terminal will have to buy from the spot market till then.