BW LPG Ceases Investment in India LPG Import Terminal Project
(P&GJ) — BW LPG has ended its investment in a planned onshore LPG import terminal at Jawaharlal Nehru Port Association (JNPA) in Navi Mumbai, India. The terminal was part of a partnership agreement with BW Confidence Enterprise, a joint venture involving BW LPG, Confidence Petroleum India Ltd., and Ganesh Benzoplast Ltd.
The project aimed to develop a cryogenic LPG storage facility at JNPA, with BW LPG committing about $10 million. However, citing increased market uncertainty and a renewed focus on its core shipping and trading businesses, BW LPG said it would scale back infrastructure activities to maintain operational agility.
“We are deeply grateful to our partners in India for their commitment and collaboration throughout the project’s planning phase,” said Kristian Sørensen, CEO of BW LPG. “This decision was not made lightly but reflects a realignment of our business priorities in a changing environment. India remains a vital market for BW LPG, and we continue to support its energy transition through other strategic initiatives.”
The company said it remains committed to India through other energy-related ventures but will no longer participate in the JNPA terminal’s development.
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