{"id":281686,"date":"2019-07-11T07:05:44","date_gmt":"2019-07-11T07:05:44","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=281686"},"modified":"2019-07-11T07:05:44","modified_gmt":"2019-07-11T07:05:44","slug":"indian-oil-corporation-and-gail-pact-to-buy-stake-lng-project-expires","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indian-oil-corporation-and-gail-pact-to-buy-stake-lng-project-expires\/","title":{"rendered":"Indian Oil Corporation and GAIL pact to buy stake LNG project expires"},"content":{"rendered":"<p>State-owned refinery Indian Oil Corporation (IOC) and gas utility GAIL India\u2019s initial agreement, to buy a 50 per cent stake in Adani Group\u2019s Rs 5,000 crore Dhamra LNG project in Odisha, has expired, said Dharmendra Pradhan, oil minister. On September 21, 2016, IOC and GAIL had signed a \u2018non-binding MoU\u2019 with Adani Petroleum Terminal Pvt. Ltd. to take 39 per cent and 11 per cent stake respectively in the planned five million tonnes a year liquefied natural gas import terminal at Dhamra, the minister said in a written reply to the Lok Sabha. <\/p>\n<p>The MoU was \u201csubject to management approvals of IOC and GAIL and successful negotiation of the respective regasification agreements,\u201d he said. \u201cThe MoU has expired on September 20, 2018.\u201d He, however, did not give reasons for its expiry. Regasification is a process of converting liquefied natural gas (LNG) at \u2212162 \u00b0C (\u2212260 \u00b0F) temperature back to natural gas at atmospheric temperature.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-owned refinery Indian Oil Corporation (IOC) and gas utility GAIL India\u2019s initial agreement, to buy a 50 per cent stake in Adani Group\u2019s Rs 5,000 crore Dhamra LNG project in Odisha, has expired, said Dharmendra Pradhan, oil minister. On September 21, 2016, IOC and GAIL had signed a \u2018non-binding MoU\u2019 with Adani Petroleum Terminal Pvt. Ltd. to take 39 per cent and 11 per cent stake respectively in the planned five million tonnes a year liquefied natural gas import terminal at Dhamra, the minister said in a written reply to the Lok Sabha. The MoU was \u201csubject to management approvals [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,207,143],"tags":[],"class_list":["post-281686","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-new-indian-express","category-the-new-indian-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/281686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=281686"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/281686\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=281686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=281686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=281686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}