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Motilal Oswal Report
Petronet LNG Ltd.'s numbers were in line with our estimates, with volumes at 209 trillion British thermal unit and utilisation rates at Dahej/Kochi at 88%/24% in Q1 FY22.
Kochi was largely unaffected, while Dahej was impacted by the second Covid-19 wave.
Petronet LNG's management expects the utilisation rate at Kochi to be ramped up by ~30% by end-FY22.
On the other hand, Dahej would continue to operate at over 95% owing to tied-up contracts (16.5 million metric tonnes per annum of 17.5mmtpa).
We remain positive on the gas story in India as the market share of gas in the primary energy mix is just 6%.
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