Petronet LNG Plans To Acquire Interest In Liquefied Natural Gas Projects In Qatar

Published: Nov 10 2017
Deal Summary

Petronet LNG Limited, an importer of liquefied natural gas (LNG), intends to acquire certain interest in liquefied natural gas (LNG) projects located in Qatar.

The transaction will enable Petronet to diversify its LNG portfolio.

Prabhat Singh, managing director and CEO of Petronet, said, “We sounded Qatar of our intention of acquiring a meaningful stake in any of the planned expansion projects. Having operated Dahej terminal at over 100 per cent capacity without an accident or break, we are today possibly the best company in the world to operate an LNG import and regasification facility. But we don’t have any expertise in the liquefication business. We don’t know what that stake would be but we are keen to be on board of the company. We can pick up stake in the initial two LNG trains of capacity 6 million tonnes per annum each that they plan to develop. I don’t know why the option of taking a stake in Qatari company was not exercised but we now want to do that.”

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