BW LPG Ceases $10M Investment in India LPG Terminal

BW LPG Limited has decided to cease its $10 million investment in the planned LPG onshore import terminal at Jawaharlal Nehru Port Association (JNPA) in Navi Mumbai, India, due to ongoing market uncertainties. The project was a joint venture with BW Confidence Enterprise Private Limited, Confidence Petroleum India Ltd., and Ganesh Benzoplast Limited, aimed at developing a cryogenic LPG storage facility. This strategic withdrawal aligns with BW LPG's renewed focus on its core operations in shipping and trading to enhance operational efficiency and maintain agility amid volatile market conditions. Although the company is stepping back from the terminal project, it remains committed to the Indian market and intends to pursue other strategic initiatives supporting energy transition. BW LPG's CEO emphasized that the decision was a realignment of business priorities in response to changing market dynamics, while expressing gratitude to its partners for their collaboration. The move may affect short-term financials and future partnerships but reflects BW LPG's adaptive strategy to safeguard its core business.