Bharat Petroleum Corporation (BPCL) is discovering an opportunity to set up a liquefied natural gas (LNG) terminal in India with a joint venture partner to meet the growing demand for imported natural gas as domestic gas production declines.
The company is in discussion with few oil and gas companies including ONGC, and is looking at setting up a 5 million tonnes per annum (mtpa) terminal to cater to the rising demand for gas from the power, fertiliser and city gas distribution companies.
Currently, BPCL is importing crude oil for its refineries. This move to set up a LNG terminal is also necessitated by its gas finds in Mozambique oil block billed as three times bigger than KG-D6 basin with in-place reserves of 50 plus mtpa. The company also plans to bring some portion of the gas post-production to India.
Company Name | CMP |
---|---|
Reliance Industries | 2911.25 |
Indian Oil Corp. | 167.20 |
BPCL | 646.50 |
HPCL | 546.65 |
MRPL | 213.90 |
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