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 Ltds (PLLs) regassification terminal at Kochi for importing gas, as BPCL is an equity holder in PLL, Singh added.
India Infoline Research Team / 08:59, Sep 02, 2014
The indices are expect to open on a positive note. Some profit booking could always set in later in the day.