Petronet eyes stake in Qatari LNG projects

Petronet eyes stake in Qatari LNG projectsImage courtesy of Petronet LNG

Petronet LNG, India’s largest importer of liquefied natural gas, could secure a stake in Qatar’s expansion projects as it looks to diversify its portfolio. 

The company’s managing director and CEO Prabhat Singh said Petronet was eyeing a stake that would secure it a position on the board of the Qatari company, Press Trust of India reports.

Currently, Petronet LNG imports 7.5 million tons of LNG per year for a period of 25 years from Qatar’s RasGas, under which Petronet would get a five percent stake in a liquefaction facility in Qatar.

However, since Oil and Natural Gas Corporation (ONGC), as Petronet’s nominee declined to make the payment of $135, the stake could cost around $2 billion now.

Singh added that the company has informed Qatar of its intention to acquire a stake in the expansion projects that could see Qatar’s export capacity rise to 100 million tons of LNG per year.

Every new train built in the RasLaffan LNG complex is essentially a company, and Petronet will have the option to buy a stake in either a Qatargas or a RasGas-led project.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Nov 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

The 27th World Gas Conference (WGC 2018)

The 27th World Gas Conference (WGC 2018) will be the largest, most timely and most significant global gas conference and exhibition ever held.

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening is recognised as the premier end of year gathering for the global LNG industry.

read more >

CWC Japan LNG & Gas Summit

The inaugural CWC Japan LNG & Gas Summit, supported by METI, is the dedicated platform for international suppliers

read more >

Asia Pacific Maritime and Offshore Exhibition 2018

7 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia…

read more >