Essar Oil to set up LNG terminal in Gujarat

Essar Oil -- part of the Essar Group -- is planning to venture into the LNG terminal business in India by setting up a Rs 4,000 crore LNG terminal in Gujarat. The company is currently in talks with the Hindustan Petroleum Corporation (HPCL) for an equity participation in the project. Though there was no official confirmation in this regard, sources state that about 30% of stake will be offered to HPCL. Variou other PSU companies like IOC, ONGC and GAIL are also planning to set up LNG terminals at Ennore, Mangalore and Dabhol.