Petronet in talks to buy 25% in Mundra terminal

Petronet LNG Ltd, India’s biggest importer of liquid gas, is in talks to buy a 25% stake in Gujarat State Petroleum Corp.’s (GSPC) almost-complete ₹4,500crore Mundra LNG import terminal in Gujarat, people privy to the development said. The 5-million tonne a year import terminal, the third facility in Gujarat for import of natural gas in its liquid form in ships, is nearing completion and GSPC is keen to shed some of its stake to lighten its debt burden. The Adani group holds 25% interest in the LNG import terminal.