BPCL to invest Rs 1,500-1,700 cr by 2022 in floating LNG terminal in AP

Bharat Petroleum Corp Ltd (BPCL) plans to invest Rs 1,500-1,700 crore in building a floating liquefied natural gas (LNG) import terminal at Krishnapatnam in Andhra Pradesh by 2022, its chairman D Rajkumar said on Monday.

BPCL, the country’s second-biggest state-owned oil refining and fuel marketing company, is betting big on gas business in anticipation of energy consumption basket undergoing change as focus shifts to cleaner sources.

The company will hold 74 per cent interest in the project while the remaining 26 per cent will be with Petronet LNG Ltd, he said here.

“Initially it will be a 1 million tonne per annum FSRU based terminal which can be scaled up to 3 million tonne or 5 million tonne in future,” he said.