Mundra LNG Terminal

From Global Energy Monitor
This article is part of the Global Fossil Infrastructure Tracker, a project of Global Energy Monitor.
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Mundra LNG Terminal is an LNG terminal in Mundra Port, Kutch, Gujarat, India.

Location

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Project Details

  • Owner: GSPL LNG Ltd
  • Parent: Adani Group (50%), IndianOil (50%)
  • Location: Mundra Port, Kutch, Gujarat, India
  • Coordinates: 22.7374322, 69.6668651 (exact)
  • Capacity: 5 mtpa, 0.72 bcfd
  • Status: Operating[1]
  • Type: Import
  • Start Year: 2020[2]

Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day

Background

Mundra LNG Terminal is an LNG terminal under development in Gujarat, India on the west coast.[3] The LNG terminal may be doubled to 10 mtpa.[4]

Mundra was built to have the capability to expand to 10 mtpa.[5]

Prime Minister Narendra Modi presided over a ceremony inaugurating the terminal in October 2018,[6] however it had not been officially commissioned as of July 2019.[7] GSPL plans to commission it by September 2019.[7]

Operations began in January of 2020.[8]

Debt

In June 2017 Adani Group's board approved a sale of it's Mundra Terminal. The buyer will inherit's Adani's debt on the plant. The buyer would be Adani Group's subsidy, Adani power.[9]

Bloomberg reported on June 2017 that Adani was seeking options for the Mundra LNG after the Supreme Court kill the company's plans for a higher tariff to compensate for an increased Indonesian coal cost.[9] Care Ratings classified Adani's’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 the most indebted organization in the Adani Group company. Crisil Ratings claimed the firm was ‘non-cooperative’ for a rating exercise.[9]

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.[10] State-owned Gujarat State Petroleum Corporation (GSPC) owned 75% while Adani Group holds 25%.[11]

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