Gail India, state-run gas utility firm, is in talks with gasrich Qatar to secure 3 million tonnes of LNG at a lower than the offered price of $14 per unit. In turn, the company will help Qatar Petroleum acquire 5% equity in the nation’s largest liquefied natural gas importer, Petronet LNG, by waiving its preemptive rights on Asian Development Bank’s stake. The state run firm is seeking a price of $12.5 per unit for LNG.
Earlier, it was reported that Indraprastha Gas is also keen to buy Asian Development Bank’s 5.2% stake in Petronet LNG. Petronet’s promoter firm’s IOC, ONGC, GAIL and BPCL were originally interested in buying ADB’s 5.2% stake but the firm’s management was opposed to it as it would have led to PSU holding crossing 50%, which would turn the LNG importer into a government entity.
Earlier, it was reported that Indraprastha Gas is also keen to buy Asian Development Bank’s 5.2% stake in Petronet LNG. Petronet’s promoter firm’s IOC, ONGC, GAIL and BPCL were originally interested in buying ADB’s 5.2% stake but the firm’s management was opposed to it as it would have led to PSU holding crossing 50%, which would turn the LNG importer into a government entity.
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