|
Publisher: Telephone: Managing Editor: Contributors: John Elkins Neisha Krastanoff Duncan Lawson Julie Mackintosh Jason O'Connell Obafemi Oredein Enrique Tessieri Kamlesh Trivedi Ben Wetherall Subscriptions: Matt Shelton
© Copyright 2007, |
|
| A monthly in-depth analysis on global gas issues and events. | |
| A bi-monthly review covering the global LNG midstream industry. | |
| A database service including statistics on European Supply Demand, Global LNG and country by country pricing. | |
| A market research service providing bespoke analysis on midstream and downstream natural gas developments. | |
|
|
|
|
Thursday 7th August 08 |
|
South Asia - LNG
|
|
|
The Asian Development Bank (ADB) may retain its 5.2% share in India’s Petronet LNG terminal. An ADB bank executive told local news: "We aren't selling our stake. At this point ADB has decided not to divest its shares.” Shantanu Chakraborty, senior investment specialist at ADB's Private Sector Operations Department, denied reports that the Bank had to sell its stake in the LNG terminal because the ADB provided a follow-up loan for Petronet in 2007 to expand the capacity of its Dahej terminal from 5 mt to 10 mt. ADB and German Development Bank KfW approved a loan of $169 million to Petronet for its expansion projects at Dahej and new terminal at Kochi, and news reports said ADB’s internal rules prohibit it from having both debt and equity exposure in a given company. Chakraborty denied the report as “unfounded.” GAIL, Indian Oil Corporation (IOC), Bharat Petroleum (BPCL) and ONGC each holds 12.5% stake in Petronet LNG – GdF has a 10% stake. India’s Mittal group as well as Chevron were reportedly interested in ADB’s Petronet stake which is worth around $57 million – a comparative bargain for Mittal or Chevron. – TR |
|