Gujarat Gas buys 100cr more of GSPC LNG shares

The acquisition aims to have better synergy and integration in — but not limited to — its gas value chain, the company said in its stock exchange filings. GLL is involved in LNG receiving, storage and regasification and operates a terminal at Mundra, Kutch.

“GLL operates on a toll model and offers regasification services to users for a fee. In addition to this, the company also offers LNG tanker truck loading services to users which supports the development of small-scale LNG business to customers who are not connected to pipeline networks. The LNG terminal of GLL is also equipped to undertake reloading of LNG ships. Storage and reloading of LNG can be developed as an alternate line of business in the future,” Gujarat Gas said in a statement.

In FY 2022-23, GLL posted a net revenue of Rs 232.07 crore from operations.

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