 Oman is considering buying up to a 20 per cent stake in Petronet LNG’s proposed $130 billion LNG import terminal on the eastern coast of India, said H E Mohammed al Rumhi, Minister of Oil and Gas, according to news site Zawya.
“We are interested in Petronet. We are looking to invest in one of its projects on the east coast. We have not decided on the stake. It will be small, maybe 10-15-20 per cent,” he was quoted as saying after delivering Petronet’s foundation day lecture in New Delhi.
“We have been in discussions with Petronet for the past two months,” he added, according to Indian news agency PTI. Petronet, which supplies liquefied natural gas (LNG), is building a 5mn-tonne-a-year LNG terminal at Gangavaram, in the state of Andhra Pradesh.
The minister said the energy-hungry nation also aims to get 1bn ft3 of gas per day from Iran from 2017-18, under a long-term agreement, if the plan materialises, according to the media reports.
Petronet plans to build its first terminal on the east coast through a subsidiary in which it wants to retain a minimum 51 per cent stake. “Eight per cent stake has already been taken by Gangaravam Port and we are willing to take on strategic partners,” Petronet director R K Garg said.
