Oman Eyes Stake in Gangavaram LNG Terminal

Oman is looking to buy a stake in Petronet LNG’s planned import terminal at Gangavaram in Andhra Pradesh, Oman’s oil minister Mohammed bin Hamad Al Rumhy said.

“We have not decided on (the) stake. It will be a small (stake) – maybe 10-15 percent,” he said, adding the two sides had been engaged in negotiations for the past two months, Reuters informs.

The Gangvaram LNG terminal will be Petronet’s third LNG import terminal and it will have a capacity of 5 million tonnes per annum.

The LNG terminal will help meet the growing energy demand of the State of Andhra Pradesh and will also cater to the increasing gas requirements of eastern and central part of India.

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LNG World News Staff, April 4, 2014; Image: Petronet