Swan Energy to Sell $399 Million Stake in LNG Terminal to Turkish Firm
8/14/2024
(Reuters) — Indian oil and gas firm Swan Energy plans to sell a stake in one of its liquefied natural gas (LNG) terminals to Turkish state energy company BOTAS in a deal worth $399 million, it said in an exchange filing on Wednesday.
Swan Energy is the majority owner of Triumph Offshore Pvt Ltd (TOPL), the company that owns the LNG terminal in question.
Fertilizer firm Indian Farmers Fertilizer Cooperative (IFFCO) controls the rest, according to IFFCO's website.
Swan Energy bought a 49% stake in Triumph for a deal worth 4.4 billion rupees ($52.43 million) from IFFCO in June.
($1 = 83.9210 Indian rupees)
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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