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VLGC owner and operator BW LPG has decided to drop its investment plans for a liquefied petroleum gas onshore import terminal project in India, citing “heightened market uncertainties influencing the global business landscape”.
The project, initiated by BW LPG’s joint venture with Confidence Petroleum India, called BW Confidence, and Ganesh Benzoplast, aimed to develop a cryogenic LPG storage facility at Jawaharlal Nehru Port, with BW LPG contributing about $10m.
The dual-listed unit of Singapore’s BW Group, which operates more than 50 VLGCs, said the strategic move to cease the investment will see the company discontinue its involvement in the terminal’s development and maintain its focus on the core business of shipping and trading.
“The company will scale back activities within its infrastructure segment to ensure optimal resource allocation and maintain operational agility.”
Kristian Sørensen, CEO at BW LPG, noted that the decision “was not made lightly” but that it reflects a realignment of the company’s business priorities in a changing environment.
The company logged a net profit of $66.6m for the first quarter of 2025, down from nearly $150m same time last year.
The post BW LPG exits Indian gas terminal scheme appeared first on Energy News Beat.
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