HPCL to buy 11-15% stake in Petronet’s east coast terminal
State-owned Hindustan Petroleum Corp Ltd is likely to buy 11-15 per cent stake in Petronet LNG Ltd’s Rs 5,000 crore LNG import terminal on the east coast.
“We have a huge gas requirement at our Vizag refinery and naturally it is to our interest that we take a stake in the Gangavaram terminal in Andhra Pradesh,” an HPCL official said. HPCL’s Vizag refinery in Andhra Pradesh is being expanded to 15 million tonnes per annum (Mtpa) from current 8.33 MT and the expanded unit will have a gas requirement of close to 3 MT.