Swan Energy Ltd’s five-million-ton floating LNG terminal coming up off the Gujarat coast is almost sold out with state-owned Oil and Natural Gas Corp, Indian Oil Corporation and Bharat Petroleum Corp Ltd – booking 60 per cent of the capacity. The Nikhil Merchant-led firm has got the much-needed backing to complete the Rs.56 billion project with ONGC, IOC and BPCL agreeing to take one million tons per annum capacity each on the 5 million tons annual capacity.
Besides, Gujarat State Petroleum Corp Ltd (GSPC), which holds an 11-per cent stake in the ‘floating, storage and regasification unit’ (FSRU), is in talks for a 1.5 million ton capacity, reports quoting sources close to the development said. The project, being built in joint venture with Exmar of Belgium, is being built at Jafrabad port in Gujarat. Marcell Ozuna Womens JerseyShare This