PETRONET, RASGAS-MOBIL WORKING ON EQUITY SWAP

Article Abstract:

Petronet LNG Ltd and Rasgas-Mobil are negotiating an equity proposal by which both will acquire an equity stake in each other's entities. Rasgas, the suppliers for the LNG terminals at Dahej and Kochi, has shown interest in acquiring a stake in the downstream ventures of Petronet LNG, which has in turn offered to acquire a stake in an upstream project of Rasgas in Qatar. It is expected that Qatar General Petroleum Corporation, which has a 63 percent stake in Ras Laffan, will offload in favour of Petronet. (khr)

Acquisitions & mergers, Qatar, Ras Laffan Liquefied Natural Gas Company Ltd., Rasgas-Mobil, Qatar Petroleum Corp.

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GUJARAT GOVT TO TAKE 26% EQUITY IN PETRONET UNIT

Article Abstract:

The Government of Gujarat is to buy about 26 percent stake in a subsidiary to be established by Petronet LNG Limited (PLNG) for its 5 million tonnes Dahej terminal. PLNG is a joint venture of the Oil and Natural Gas Corporation (ONGC), the Indian Oil Corporation (IOC), the Gas Authority of India Ltd (GAIL) and the Bharat Petroleum Corporation Ltd (BPCL). PLNG is to have 26 percent stake in the proposed subsidiary. The balance stake will be offered to LNG suppliers and customers. (gs)

Comment:

Government of Gujarat, India is to buy about 26% stake in a subsidiary to be established by co

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FACT IN TALKS WITH PETRONET FOR LNG SUPPLY

Article Abstract:

The Fertlisers and Chemicals Travancore Ltd (FACT) will sign a purchase contract with Petronet LNG for acquiring gas from its proposed LNG Terminal at Kochi. The installed capacity of the LNG terminal is 2.5 million tonnes per annum. FACT's move follows its shift to LNG as raw material for its newly set up ammonia plant. The company had earlier intended to use the costlier naphtha as raw material for the plant. (gs)

Comment:

Will sign contract with Fertlisers & Chemicals Travancore for sale of LNG to be used as raw material for new ammonia plant

New orders received, Use of materials & supplies, Nitrogenous Fertilizer Manufacturing, Ammonia, Fertlisers and Chemicals Travancore Ltd.

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