Adani Group Offers 49% Stake in Dhamra LNG Terminal to Indian State Owned Firms

Indian private sector entity Adani Group has offered substantial stake in Dhamra LNG project in the state owned Odisha to state owned GAIL India and Indian Oil Corporation (IOC), news agency Press Trust of India reported Sunday.

Indian Oil last year signed up to use 60 percent capacity of the 5 mtpa terminal for importing gas for its refineries at Haldia in West Bengal and Paradip in Odisha. GAIL too had signed up for 1.5 million tons of the terminal's regassification capacity.

The two firms have agreed to take equity in the project but they are yet to decide on the proportion in which the 49% stake would be split, sources told Press Trust.

Dhamra will be the sixth LNG project announced on India’s east coast.