Dana Gas is planning to list some of it’s assets on the London Stock Exchange (LSE), and is poised to refinance it’s current Sukuk bond which was issued in 2008, according to a company statement addressed to the Abu Dhabi Securities Exchange obtained by Oil & Gas Middle East.
The LSE is regarded as the most liquid investment market for the Middle East, and Dana Gas’s plans to list assets there suggests a demand for increased investment for expansion.
The Sharjah-based company, which is the largest regional private sector natural gas concern in the region, also disclosed it has plans with respect to its investment in MOL, a Hungarian gas company and Hungary’s largest listed firm.
The disclosures follow theÂ
Dana Gas and MOL have been partners in the Kurdistan semi-autonomous region of Iraq since 2009, under a deal that saw Dana Gas take a 3% interest in MOL.
The partnership between MOL and Dana Gas is based upon OMV – Austria’s largest listed industrial company – becoming a 10% shareholder in Pearl Petroleum, the company which holds Crescent Petroleum and Dana Gas’ upstream interests in the Kurdistan Region of Iraq, in return for a payment of $350 million.
This in turn is re-invested in the development of assets in Kurdistan, including the Khor Mor gas field.
No one at Dana Gas was available to comment on the announcement.
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