Petronet in talks to buy stake in GSPC’s Mundra terminal

Petronet in talks to buy stake in GSPC’s Mundra terminal

Petronet LNG Ltd, India’s biggest importer of liquid gas, is in talks to buy 25 per cent stake in Gujarat State Petroleum Corporation’s (GSPC) almost- complete Rs 4,500-crore Mundra LNG import terminal in Gujarat.

The 5-million tonne a year import terminal, the third facility in Gujarat for import of natural gas in its liquid form in ships, is nearing completion and GSPC is keen to shed some of its stake to lighten its debt burden. GSPC first offered its 50 per cent stake in the project to state refiner Indian Oil Corporation (IOC), but the company was willing to take no more than 25-26 per cent. So now, GSPC is talking to Petronet for selling 25 per cent stake, sources privy to the development said. The Adani group holds 25 per cent interest in the LNG import terminal. Read More…

 

Credit By  : FreePress Journal

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