Applying for L1 Visa, but passport expiring

[satwikgadekar]

Hi,
I need to initiate the process to apply for L1 visa now (May 2011).
But, my passport is expiring on June 2012 (after 1 year).

I read that passport should be valid for atleast 9 months when you go for stamping and also chances are that the visa end date will be same as passport end date.

Can I go ahead with applying for L1 petition with this current passport and at the same time start applying for a new passport? By the time by petition gets approved, I would have got my new passport. Then, can I use the new passport to get stamping?

[kabkaba]

There is no such requirement.
Your plan also seems okay.