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IndianOil to buy 50 pc stake in Adani-GSPC LNG terminal

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IndianOil to buy 50 pc stake in Adani-GSPC LNG terminal

Post  bejoy on Tue Aug 08, 2017 2:50 am

Indian Oil Corporation (IndianOil) said that its board has given its in-principle approval for acquiring up to 50 percent equity in GSPL LNG terminal in Gujarat.
GSPL LNG Ltd is a joint venture between Gujarat State Petroleum Corporation (GSPC, a govt of Gujarat undertaking) and Adani Enterprises Ltd (AEL).

GSPL LNG is setting up a 5 million metric tonnes per annum (mmtpa) LNG terminal at Mundra Port in Gujarat. The liquefied natural gas (LNG) terminal, to be commissioned in the fourth quarter of 2017-18, will have receipt, storage and re-gassification facilities for LNG and will be connected to Gujarat State Petronet Ltd (GSPL) existing pipelines network at Anjaar (Gujarat).

The estimated cost of the Mundra LNG terminal is approx Rs. 5,040 crores.
As the second largest player in natural gas in the country, IndianOil is making significant investments in natural gas infrastructures and marketing in line with the country’s changing energy mix.

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