Mundra LNG Terminal
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Mundra LNG Terminal is proposed LNG terminal in Mundra Port, Kutch, Gujarat, India.
Contents
Location
Project Details
- Owner: GSPL LNG Ltd
- Parent: Adani Group (50%), IndianOil (50%)
- Location: Mundra Port, Kutch, Gujarat, India
- Coordinates: 22.7374322, 69.6668651 (exact)
- Capacity: 5 mtpa, 0.72 bcfd
- Status: Construction
- Type: Import
- Start Year: 2019
Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day
Background
Mundra LNG Terminal is an LNG terminal under development in Gujarat, India on the west coast.[1] The LNG terminal may be doubled to 10 mtpa.[2]
Mundra was built to have the capability to expand to 10 mtpa.[3]
Prime Minister Narendra Modi presided over a ceremony inaugurating the terminal in October 2018,[4] however it had not been officially commissioned as of July 2019.[5] GSPL plans to commission it by September 2019.[5]
Debt
In June 2017 Adani Group's board approved a sale of it's Mundra Terminal. The buyer will inherit's Adani's debt on the plant. The buyer would be Adani Group's subsidy, Adani power.[6]
Bloomberg reported on June 2017 that Adani was seeking options for the Mundra LNG after the Supreme Court kill the company's plans for a higher tariff to compensate for an increased Indonesian coal cost.[6] Care Ratings classified Adani's’s long-term loans under "credit watch" category. Bloomberg also reported on June 2017 that most foreign brokerages had a ‘sell’ rating on Adani Power. It the most indebted organization in the Adani Group company. Crisil Ratings claimed the firm was ‘non-cooperative’ for a rating exercise.[6]
The terminal is being constructed by GSPL LNG Ltd, owned by the Adani Group. In August 2017, state-owned Indian Oil Corp. (IOC) said it will acquire up to a 50% stake in GSPL LNG Ltd.[7] State-owned Gujarat State Petroleum Corporation (GSPC) owned 75% while Adani Group holds 25%.[8]
Articles and resources
References
- ↑ Mundra LNG Terminal, A Barrel Full, accessed April 2017
- ↑ Karen Thomas, "Quenching the Indian subcontinent’s thirst for LNG," LNG World Shipping, June 26, 2017.
- ↑ "Gujarat to set up two new LNG terminals of 10 MMTPA," Business Standard, March 4, 2015
- ↑ Modi Inaugurates Mundra LNG Terminal, The Maritime Executive, Oct. 1, 2018
- ↑ 5.0 5.1 GSPC to commission Mundra LNG terminal in 2-3 months, Livemint, Jul. 8, 2019
- ↑ 6.0 6.1 6.2 Nickey Mirchandani, "Qatargas and RasGas complete first coloading of LNG," Bloomberg Quint, June 19, 2017.
- ↑ "IOC to buy up to 50% stake in Adani backed Mundra LNG terminal for Rs750 cr," Live Mint, Aug 4, 2017
- ↑ "IOC to buy up to 50% stake in Adani backed Mundra LNG terminal for Rs750 cr," DNA, Aug 7, 2017
