Bharat Petroleum Corporation (BPCL) is planning to invest Rs 1,500-1,700 crore in building a floating liquefied natural gas (LNG) import terminal at Krishnapatnam in Andhra Pradesh by 2022. The company will hold 74 percent interest in the project while the remaining 26 percent will be with Petronet LNG.
The project is likely to be commissioned by 2022. The company has made a foray into city gas distribution (CGD) and is now looking to set up an LNG import terminal of its own.
BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.