HPCL arm successfully commissions LNG Regasification terminal in Gujarat

Hindustan Petroleum Corporation (HPCL) has announced the successful commissioning of a 5 MMTPA capacity LNG Regasification terminal at Chhara, Gujarat, established by its wholly owned subsidiary, HPCL LNG.

The company stated that the ship, Maran Gas Coronis, carrying LNG cargo, berthed on 6 January 2025, and the discharge of the cargo into the onshore LNG tanks was successfully completed on 12 January 2025.

The terminal, located at Chhara Port in Gir-Somnath District, Gujarat, has been developed with an investment of approximately Rs 4,750 crore. It features facilities for LNG receipt through ocean tankers, marine unloading, storage, LNG road tanker loading, regasification and the supply of regasified LNG to the gas grid.

HPCL LNG will operate the terminal under a tolling model, offering services to third-party users through long-term capacity booking contracts and/or master regasification agreements for spot cargoes. The company has already brought in its first cargo, and the terminal is set to begin commercial operations soon.

HPCL is engaged in the business of refining crude oil and marketing petroleum products. It operates through two segments: downstream and exploration and production of hydrocarbons.

The companys standalone net profit tumbled 87.67% to Rs 631.18 crore in Q2 FY25 as against Rs 5,118.16 crore posted in Q2 FY24. Net sales (excluding excise duty) grew by 4.29% year on year (YoY) to Rs 99,413.16 crore in the September 2024 quarter.

The scrip tumbled 6.44% to Rs 363.40 on the BSE.

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