India’s Reliance Industries and BP of UK are in negotiations to buy a stake in an existing operator of a LNG import terminal, The Economic Times reported, citing unnamed sources.
RIL and BP, through its 50:50 joint venture, India Gas Solutions, had preliminary discussions with an LNG terminal operator and are looking to pick up equity in the company.
The two companies formed the JV in November 2011 for gas marketing and infrastructure in India.
India has currently two LNG import terminals, Shell’s Hazira LNG terminal and Petronet’s Dahej terminal.
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LNG World News Staff, February 17, 2012; Image: Petronet LNG