Petronet LNG to take 26 per cent stake in BPCL’s Krishnapatnam LNG terminal
Petronet LNG Ltd (PLL), India’s biggest importer of liquefied natural gas(LNG), will take a 26 per cent stake in a planned 1 million tonne (mt) capacity terminal for import and re-gasification of the super cooled fuel. This terminal will be helmed by Bharat Petroleum Corporation Ltd (BPCL) at Krishnapatnam port in Andhra Pradesh’s Nellore district.
BPCL has received the board’s approval for the project, which is estimated to cost some Rs 1,700 crore and is targeted for operations by 2024.
“We have an arrangement for PLL to take a 26 per cent stake in the project,” a top BPCL executive told BusinessLine. “We are also talking to Japanese firms such as Mitsui & Co and NKK as well as some other firms to take stakes in the terminal,” the executive said, asking not to be named.
