Petronet LNG in talks for stake sale in Gangavaram project

NEW DELHI (Reuters) - India's Petronet LNG is in talks to offer up to 18 percent stake in its Gangavaram terminal project to a strategic partner, its Chief Executive A.K. Balyan said on Tuesday.

Petronet, which supplies liquefied natural gas (LNG), aims to build a 5 million tonne a year LNG terminal at Gangavaram in the east coast by 2016. Petronet has 74 percent stake in the terminal while Gangavaram port has 8 percent stake.

"We are looking at largely a producer or supplier of gas. Several well-known companies have got in touch and would like to have more information," Balyan told reporters.

 

(Reporting by Nidhi Verma; Editing by Anand Basu)