India: Petronet LNG to Sell Gangavaram Project Stake

Petronet LNG of India, the country’s largest importer of liquefied natural gas, is in negotiations to sell up to 18 percent stake in the company’s Gangavaram terminal project to a strategic partner.

“We are looking at largely a producer or supplier of gas. Several well-known companies have got in touch and would like to have more information,” Reuters cited Petronet’s Chief Executive A.K. Balyan as saying.

The Gangvaram terminal will be the company’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.

[mappress]
LNG World News Staff, July 30, 2013; Image: Petronet LNG