Petredec today completed the acquisition of NGC Energy India Private Limited, the former Joint Venture in which Petredec was a minority shareholder with National Gas Company (SAOG) Oman. In closing the transaction, Petredec has acquired the Omani company’s entire interest in the Indian entity and will operate the business independently going forwards.
Since 2019, NGC Energy India Private Limited has been developing a 34,000mts LPG import terminal in Krishnapatnam, Andhra Pradesh which is in the final stages of construction. The facility has been designed and built to address growing import demand and is expected to service an extensive hinterland throughout South India. Before commissioning the terminal in H1 2023, the entity will be renamed Petregaz India Private Limited and operated as a standalone business with the Petredec Onshore division.
The 34,000mts LPG Import Facility in Krishnapatnam is nearing completion