India’s GSPC LNG Limited, a subsidiary of Gujarat State Petroleum Corp., plans to halve the Adani Group’s stake in the proposed Mundra LNG terminal to bring in a third partner, DNA reported, citing unnamed official.
GSPC LNG would hold 50 percent of the project, Adani 25 percent.
The process to identify another strategic partner, who would hold the remaining 25 percent stake, has already been initiated.
GSPC LNG was set up in 2007 to develop a LNG terminal at Mundra in Gujarat, which is expected to be commissioned in 2014.
The LNG terminal is designed to have two LNG storage tanks and will have LNG receiving, re-gasification and gas evacuation facilities.
LNG World News Staff, January 9, 2012; Image: GSPC