LNGPetronet LNG Ltd (PLL), India’s largest liquefied natural gas importer, will set up a floating Liquefied Natural Gas (LNG) receipt facility at Gopalpur port in Odisha at INR23.06 bn (US$282.3 mn). LNG is a natural gas that has been supercooled, changing it from a gas into a liquid that is 1/600th of its original volume. The government sets a cap or ceiling rate at which natural gas from difficult fields like deepsea can be sold. The contract price would also need to be €35 higher than a reference price based on existing liquefied natural gas price assessments. The surge in power demand was mainly due to increased heating needs of the people that normally formed 50 percent of the total demand, power distribution company said.
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