Petronet LNG offered stake in Mundra LNG project

Petronet LNG offered stake in Mundra LNG project
Image courtesy of GSPC

India’s largest importer of liquefied natural gas, Petronet LNG is reportedly in negotiations with Gujarat State Petroleum Corporation over a 25 percent stake in Mundra LNG import terminal. 

Press Trust of India reports that GSPC is looking to sell a certain percentage of its ownership in the 5 mtpa terminal that is nearing completion.

The company is aiming to shed 50 percent of its stake in the project. Initially, it offered 50 percent of its ownership to the Indian Oil Corporation, however, after the latter showed interest only in 25 percent, GSPC turned o Petronet LNG to sell the remaining stake on offer.

A number of companies showed interest in the 25 percent stake, with the state gas utility GAIL being one of them, however, GSPC directly offered the stake to Petronet LNG.

Once the transactions are concluded, GSPC, IOC, Petronet LNG and Adani Group will each hold a 25 percent ownership in the import terminal.

In addition, Petronet LNG’s board members have given a green light for the issuance of bonus company shares.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Oct 2019 >>
MTWTFSS
30 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 31 1 2 3

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

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

read more >

FLNG World Congress 2019

2019 FLNG World Congress will bring together stakeholders across the floating liquefaction value…

read more >