Pandian mediates GSPC-Adani row
Gujarat energy secretary DJ Pandian has been appointed to mediate in the continuing row between GSPC and Adani Energy over the equity split for the proposed 5m t/y LNG terminal at Mundra, the third on Gujarat’s coast.
GSPC, which holds 50%, first sent Adani the Mundra shareholder agreement back in June 2009, but Adani has not signed and returned it as it wants more than the 25% stake it has been allocated. But GSPC wants to give the remaining 25% stake to a ‘strategic’ partner, preferably one that can ensure long-term LNG supplies.
Fed up with waiting, Gujarat state authorities last month (April) told Pandian to urgently resolve the dispute by May 31. Pandian, a former GSPC managing director, immediately met his replacement Tapan Ray on April 23 and is expected to hold a second meeting with Ray this month (May).
“Pandian will then meet Adani,” we hear. Sometime in mid-May, it’s expected Pandian will call both sides together before hammering out a compromise.