Petronet LNG to acquire 25 per cent stake in GSPC’s Mundra LNG project

Petronet LNG Limited is in talks to acquire a 25 per cent equity stake in the Gujarat State Petroleum Corporation’s (GSPC) Mundra LNG terminal project. GSPC first offered its 50 per cent stake to Indian Oil Corporation Limited (IOCL); however, the latter was willing to acquire no more than 25-26 per cent. GSPC is now in talks with Petronet for selling a 25 per cent stake. The Adani Group holds a 25 per cent stake in the terminal. GSPC LNG Limited, a special purpose vehicle formed by GSPC, will hold a 25 per cent stake, similar to IOCL and Petronet, if the deal goes through.