Bharat Petroleum Corp Ltd (BPCL) and Oil and Natural Gas Corp Ltd (ONGC) proposed jointly to develop Mangalore LNG terminal has reportedly put on hold.
Senior executives of both the companies said that how far the two partners could sell the fuel in the domestic market is under doubts. As we are thinking whether the Rs 5,000-crore regasification plant is viable.
R K Singh, Chairman and Managing director of BPCL was quoted as saying, “The LNG terminal project is very much on the table and we have not scrapped it.”
The company could also use Petronet LNG Ltd’s (PLL’s) regassification terminal at Kochi for importing gas, as BPCL is an equity holder in PLL, Singh added.
India Infoline Research Team / 14:59, May 20, 2015
GPIL reported 13.5% yoy decline in operating profit as the impact of higher volumes was offset by lower product prices