RIL-BP Shortlisted For Picking Up Stake in Mundra LNG Terminal in Gujarat

Reliance Industries (RIL)-BP combine has been shortlisted for picking up 25 percent stake in Gujarat government's planned LNG import terminal at Mundra, officials said on Tuesday, reports news agency Press Trust of India.

Apart from India Gas Solutions Pvt Ltd, the equal joint venture between the RIL and BP, two other companies have been shortlisted:  Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC), an official told the news agency on the sidelines of 8th Asia Gas Partnership Summit which taking place in New Delhi.

The official said Gujarat State Petroleum Corporation (GSPC) is likely to finalise the partner in next few days.

"Essentially, GSPC is looking at a partner which can bring in LNG, can consume the imported liquid gas as well and market the fuel," he said adding RIL-BP fits the bill perfectly. IOC and ONGC, on the other hand, are only consumers of the fuel.

GSPC would hold 50 percent stake, while Adani Group would take 25 percent.

The LNG terminal will have two LNG storage tanks. It will have LNG receiving, re-gasification and gas evacuation facilities, Press Trust of India reports.

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