Petronet LNG and Gangavaram Port (GPL) have signed a firm and binding term sheet agreement for developing a land based Liquefied Natural Gas (LNG) Terminal at Gangavaram Port, Andhra Pradesh with a capacity of 5.0 million metric tonnes per annum (MMTPA). Both the companies have inked term sheet on May 02, 2012.
Petronet LNG is one of the leading players in oil and natural gas industry space. It has India’s first and largest LNG supply terminal located at Dahej.
The company posted an increase of 72.90% in its Q3FY12’s net profit at Rs 295.38 crore as compared to Rs 170.84 crore for Q3FY11. The company’s total income for the quarter under review has registered a growth of 74.70% at Rs 6346.65 crore as compared to Rs 3633.05 crore in the December quarter of the previous year.
