Mundra LNG Terminal
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Mundra LNG Terminal is an LNG terminal in Mundra Port, Kutch, Gujarat, India.
Location
Project Details
- Owner: GSPL LNG Ltd
- Parent: Gujarat State Petronet (95%), Adani Group (5%)[1]
- Location: Mundra Port, Kutch, Gujarat, India
- Coordinates: 22.7374322, 69.6668651 (exact)
- Capacity: 5 mtpa, 0.72 bcfd
- Status: Operating[2]
- Type: Import
- Start Year: 2020[3]
Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day
Background
Mundra LNG Terminal is an LNG terminal in Gujarat, India on the west coast.[4] The LNG terminal may be doubled to 10 mtpa.[5]
Mundra was built to have the capability to expand to 10 mtpa.[6]
Prime Minister Narendra Modi presided over a ceremony inaugurating the terminal in October 2018,[7] however it had not been officially commissioned as of July 2019.[8] GSPL plans to commission it by September 2019.[8]
Operations began in January of 2020.[9] The terminal has two 160,000 m3 storage tanks and a truck loading facility.[1]
Debt
In June 2017 Adani Group's board approved the sale of its Mundra Terminal. The buyer will inherit Adani's debt on the plant. The buyer would be Adani Group's subsidy, Adani Power.[10]
Bloomberg reported in June 2017 that Adani was seeking options for Mundra LNG after the Supreme Court killed the company's plans for a higher tariff to compensate for increased Indonesian coal cost.[10] Care Ratings classified Adani'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 is the most indebted organization in the Adani Group company. Crisil Ratings claimed the firm was ‘non-cooperative’ for a rating exercise.[10]
The terminal was 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.[11] State-owned Gujarat State Petroleum Corporation (GSPC) owned 75% while Adani Group holds 25%.[12]
Articles and resources
References
- ↑ 1.0 1.1 GIIGNL 2021 Annual Report, accessed May 5, 2021
- ↑ Rutam Vora, "GSPC LNG terminal at Mundra Port goes onstream; 3rd facility in Gujarat," The Hindu, January 22, 2020
- ↑ Rutam Vora, "GSPC LNG terminal at Mundra Port goes onstream; 3rd facility in Gujarat," The Hindu, January 22, 2020
- ↑ 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
- ↑ 8.0 8.1 GSPC to commission Mundra LNG terminal in 2-3 months, Livemint, Jul. 8, 2019
- ↑ Rutam Vora, "GSPC LNG terminal at Mundra Port goes onstream; 3rd facility in Gujarat," The Hindu, January 22, 2020
- ↑ 10.0 10.1 10.2 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
