Mahanagar Gas forms LNG JV with Baidyanath
Mahanagar Gas, the city utility arm of Gail India, on Friday announced a joint venture with Baidyanath LNG, the first domestic firm to set up LNG retailing outlets, to form Mahanagar LNG. The joint venture will focus on developing LNG infrastructure to cater to the increasing demand for clean and sustainable energy solutions for the long-haul and close-loop transportation segments, MGL said in a statement.
The joint venture aims to set up six LNG stations in Maharashtra in the first phase and subsequently expand its footprint across the country, said MGL managing director Ashu Shinghal, who will also be the chairman of the new entity.
GJPN Murthy, the chief executive of the JV company, said the new entity will help develop an LNG ecosystem in the country and assist the long-haul automotive and logistics industry in the adoption of cleaner fuel.
Mahanagar Gas is one of the largest city gas distributors.
It has over 27 years of experience in supplying natural gas in Mumbai and is presently the sole authorised distributor of compressed natural gas (CNG) and piped natural gas (PNG) in the megapolis and its adjoining areas and in the Raigad district and reaches out to nearly 20.5 lakh households and above 4,000 small commercial and industrial establishments, apart from supplying CNG to over 9 lakh vehicles through its 1,800 plus dispensing points.
