Malaysia’s Petronas Eyeing Stake in Indian LNG Import Terminal: IOC

 

Malaysian state oil firm Petronas is looking to buy a stake in Indian Oil Corp’s Ennore liquefied natural gas (LNG) import terminal, the Indian firm’s chairman said on Wednesday (16/08).

IOC aims to start operating the 5 million-tonnes-a-year terminal in the southern state of Tamil Nadu in 2018-19.

Companies including Petronas have shown an interest in taking a stake in Ennore, Sanjiv Singh told reporters on the sidelines of an event, adding that India’s Petronet LNG was also interested.

State-owned Petroliam Nasional Berhad sees significant growth potential for LNG sales to India, Pakistan, Bangladesh and some parts of Southeast Asia, its upstream CEO Mohd Anuar Taib said in May.

India has plans to raise its annual LNG import capacity to 50 million tonnes in the next few years from 21 million tonnes now.

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