Petronet LNG Limited (PLL) has dropped its plans to buy a 25 per cent stake in Gujarat State Petroleum Corporation’s (GSPC) Mundra LNG import terminal in Gujarat, in order to allow its promoter Indian Oil Corporation Limited (IOCL) to pick up a larger stake in the same. IOCL has been in discussions with GSPC for almost two years for acquiring a 50 per cent stake in the 5 million tonne per year Mundra LNG import terminal, while PLL only entered the fray in 2017. Further, PLL is keen on buying a stake in IOCL’s under-construction Ennore LNG import facility in Tamil Nadu and in lieu of letting go of Mundra, the company wants IOCL to give it a 25 per cent stake in the Ennore terminal. Reportedly, for PLL, Ennore is more strategically important as the company already has two terminals on the west coast – Dahej in Gujarat and Kochi in Kerala. Talks on Ennore are under way.