LNG

IOC to acquire 50% stake in India’s Mundra LNG terminal

Indian Oil Corp. will acquire a 50% equity stake in the Mundra LNG terminal in the state of Gujarat.
By Staff reporter 10 August 2017 0 27143

Indian Oil Corp. (IOC) will acquire a 50% equity stake in the Mundra LNG terminal in the state of Gujarat, according to Platts.

The terminal is expected to be brought online in the first quarter of 2018 at a cost of $790 million.

IOC is seeking to expand its investment in the gas sector in line with India’s desire to expand the use of the fuel in its energy mix.