Prime Minister Dr Manmohan Singh dedicated to the nation the Second lNG Terminal of Petronet lNG at Kochi, Kerala. This terminal has been constructed at a cost of around Rs 4,500 crore which is one of the biggest investments in the state of Kerala in recent times.
The Kochi lNG terminal can process five million tonnes of liquid natural gas (about 18 million standard cubic meters per day) and holds enormous potential not only for Kerala but for entire Southern region of India as it can spur industrial activities alongside the pipeline network. On this occasion Prime Minister congratulated the people of Kerala for having this clean and green source of energy and lauded the efforts put in by Petronet lNG for relentlessly pursuing the energy security for the country.
He emphasised that despite country’s pursuance for domestic gas production, the country would need to import more gas to keep pace with economic growth. Therefore, the country needs to put in place world class infrastructure at appropriate locations at required timelines. He, however, emphasised that in order to maintain parity between domestic and imported gas price, market discovered pricing mechanism is the need of the hour.