After an hour-long meeting with the petroleum minister V K Ramamurthy here yesterday Kumaramangalam told PTI "NTPC will have a stake in Petronet LNG and all the issues regarding the power utility's participation in the company have been cleared."

Finance ministry is reported to have opposed NTPC's inclusion as equity partner in Petronet LNG, a joint entity of national oil companies for importing liquefied natural gas, at the cost of withdrawal of Indian Oil Corporation (IOC) and Bharat Petroleum (BPCL).

Following earlier discussion between power and petroleum ministry, IOC and BPCL were asked to exit from Petronet LNG, in which they have promoters stake of 12.5 per cent each, the same as Oil and Natural Gas Corporation (ONGC) and Gas Authority of India Ltd (GAIL).

Financeministry's opposition came in response to a cabinet note circulated by the petroleum ministry for restructuring of Petronet LNG that envisaged 16.63 per cent stake each for ONGC, GAIL and NTPC.

When contacted, petroleum ministry officials confirmed that the finance ministry was opposed to oil companies - Indian Oil Corporation (IOC) and Bharat Petroleum (BPCL) giving up their stakes to accommodate NTPC.