Business Daily from THE HINDU group of publications
Friday, Oct 13, 2006

Cross Currency

Group Sites

Corporate - Outlook
States - Gujarat
GSPC plans LNG terminal in Gujarat

Our Bureau

New Delhi , Oct. 12

Gujarat State Petroleum Corporation (GSPC) plans to set up a five-million-tonne liquefied natural gas (LNG) import terminal in Gujarat by 2010-11, Mr D. J. Pandian, Managing Director, GSPC said.

While declining to give the investment figures, he said ``we are planning for an LNG import and re-gasification terminal of 5 million tonnes capacity.''

``Investment talks are still at a preliminary stage and a number of companies, both Indian and foreign, have expressed interest,'' he told media persons at the sidelines of a conference here. The company plans to retain a 26 per cent stake in the proposed LNG terminal and offer the rest to various investors, he said.

Bids for KG Basin

The company proposes to invite bids from four short-listed global energy giants by November 2, for a possible 30 per cent stake sale in its giant gas field in the Krishna Godavri Basin. Mr Pandian said ``we will be able to decide on a partner in a month's time from that date.''

He said bids for development of its Krishna Godavari gas block would be opened on November 2.

Last month, the company short-listed four energy majors, Chevron, BG, British Petroleum and ENI, for selling the 30 per cent stake in its gas rich KG-OSN-2001/3 block off the east coast. Chevron Corp of US, BP Plc, BG Group of the UK and Italy's ENI had been asked to submit final bids by the third week of October. These four firms were short listed from about 13 firms, which had expressed interest in picking up a stake in the estimated 20 trillion cubic feet gas discovery in the KG basin. Royal Dutch/Shell had not been able to clear the preliminary qualifying round.

More Stories on : Outlook | Petroleum | Gujarat

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
`Motorola, ZTE disqualified on technical grounds'

BHEL bags Rs 950-cr order in M.P.
Sujana Metal shines on revamp, plans merger of unlisted entity
IFC picks up stake in Suguna Poultry for $11 m
RCF carrying out due diligence at Madras Fertilizers
MSPL Gases installs new plant
Jaipuria to invest in Nepal, Lanka realty projects
BHEL, Russian co to jointly upgrade UP power station
GAIL, HPCL plan to float joint ventures
Pact to create co for AP rly project
Beta Group to expand, diversify biz
Cairn IPO may raise $2 b
ONGC's Jharia project running behind schedule
Ford to stay away from entering small car market
GSPC plans LNG terminal in Gujarat
Subir Raha elected AIMA President

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line