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Petronet LNG is interested in buying a 25% stake in a planned liquefied natural gas (LNG) terminal in Gujarat state, its chief executive said.
Gujarat State Petroleum Corp plans to commission a 5-million-tonne-a-year LNG terminal at Mundra in the western Indian state by 2016. It holds a 50% stake in the project, while Adani group has 25%.
Essar group, which held a 25% stake, has withdrawn from the project.
Petronet's A K Balyan said on Tuesday that the company would operate its LNG terminal in Kochi in Kerala state at 12% of capacity in 2013/14 due to "pipeline constraints". It will process 4-5 spot LNG cargoes at Kochi during this fiscal year.
It plans to operate the terminal at about 75% of capacity in 2014/15.
