RIL-BP, Other Major Firms in Race for Mundra LNG Stake

Reliance Industries-BP joint venture, Torrent Power Ltd , GAIL (India) Ltd and Petronet LNG Ltd are in race to pick up a 25% stake in the proposed liquefied natural gas (LNG) terminal at Mundra in the Indian state of Gujarat, Mint newspaper has reported citing three people familiar with the development.

Gujarat government-owned Gujarat State Petroleum Corp (GSPC), which has a 50% stake in the project, had invited expressions of interest for companies willing to pick up stake in the project. The last date for submitting the tenders was 8 April, Mint said. Adani Enterprises Ltd holds a 25% stake in the project.

The proposed project will have a capacity to re-gasify 5 million tonnes per annum (mtpa). GSPC has set up a special purpose vehicle, GSPC LNG, for implementing the LNG project.