Engie to sell its share in Petronet LNG

Engie to sell its share in Petronet LNG
Petronet’s Kochi LNG terminal (Image courtesy of Petronet LNG)

France’s LNG player Engie, through its unit, GDF International, proposed to shed its shareholding in India’s largest importer of liquefied natural gas, Petronet LNG. 

According to the stock exchange filing by Petronet LNG, GDF International invited the state-owned companies that own a total of 50 percent in the company, offering them first right of purchase of Engie’s 10 percent share in Petronet LNG.

The four state-owned companies are Bharat Petroleum Corporation, GAIL, Indian Oil Corporation and Oil and Natural Gas Corporation.

Speaking to Bloomberg, R.K. Garg, Petronet LNG’s director finance said that Engie, through its unit, GDF International, was obligated to offer its stake in the company to other shareholders under the initial shareholders’ agreement.

Only in the case of the founders not putting in offers for Engie’s shareholding, the French company can offer its shareholding in Petronet LNG to other interested buyers, Garg said.

Engie’s stake in Petronet LNG at current market prices is valued at around $434 million.


LNG World News Staff

Share this article

Follow LNG World News


<< Apr 2019 >>
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 4 5

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

Central and Eastern Europe SSLNG Forum

SSLNG projects are important for Central and Eastern Europe (CEE) because they offer opportunities for solving issues…

read more >

Klaipeda LNG Forum 2019

Klaipėda LNG forum 2019 organised by Klaipėda Science and Technology Park, Klaipėdos nafta and Embassy of the Netherlands will take place on the 15-16 May at Klaipėda Castle’s site hall, Lithuania.

read more >

Flame 2019

Flame is Europe’s largest gathering of midstream gas & LNG players, bringing together everyone who matters – from producers to utilities, purchasers, infrastructure providers, traders, regulators and policy makers.


More info

read more >