Indian Oil approves Mundra LNG stake acquisition

Indian Oil approves Mundra LNG stake acquisition
Image courtesy of GSPC

Indian Oil Corporation has confirmed it plans to acquire up to 50 percent equity in the developer of the 5 mtpa Mundra LNG terminal. 

GSPL LNG, a joint venture between the Gujarat State Petroleum Corporation and Adani, is developing the import terminal at Mundra port in Gujarat.

It was recently reported that Indian Oil is only interested in a 25 percent stake in the project, aiming to keep GSPC on board as a state entity to expedite the process of building a pipeline that would connect the nearest gas grid to the terminal.

In its latest filing to the stock exchange, however, IOC has set its sight on a 50 percent stake.

If completed, Indian Oil would hold a 50 percent stake in the project with Adani Enterprises holding a 25 percent stake, with the remaining 25 percent stake to be held by GSPC.

Although the 25 percent stake was to be offered to a strategic partner, local media reported that GSPC will hold on to the 25 percent stake, which could be even bigger, depending on the size of IOC’s acquisition.


LNG World News Staff

Share this article

Follow LNG World News


<< Sep 2019 >>
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >