Qatar Team to Weigh Petronet Stake Buy
Thursday, October 19, 2006
According to BS Reporter, a delegation from Qatar is expected to visit India shortly to carry out due diligence for a possible investment in Petronet LNG.
Qatar Investment Authority is likely to pick up a stake in Petronet by subscribing to a $100mn foreign currency convertible bond issue which is expected to be floated soon.
Qatar had earlier been offered a 10 per cent stake in 2003 when the company offered shares to the public.
In 1999, Petronet had signed a 25-year contract with Qatar’s Ras Laffan Liquefied Natural Gas Company (RasGas) for 7.5 million tons per annum (mtpa) of LNG.
Source: BS Reporter