GSPC plans LNG terminal in Gujarat  

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.

Source: Business Line, New Delhi, October 11, 2006
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