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    Oman Eyeing 20% Stake Petronet's LNG Terminal on India's East Coast

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Summary

Oman is eyeing investment in Petronet LNG’s import terminal coming up on the east coast of India, reports news agency Press Trust of India.

by: shardul

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Asia/Oceania

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Oman Eyeing 20% Stake Petronet's LNG Terminal on India's East Coast

Oman is eyeing investment in Petronet LNG’s import terminal coming up on the east coast of India, reports news agency Press Trust of India.

According to Oman’s oil minister Mohammed bin Hamad Al Rumhy the country is keen on buying 20% stake in the LNG terminal at Gangavaram in Andhra Pradesh state.

“We are looking to invest in one of their [Petronet LNG] projects in east coast. We have not decided on stake. It will be small, maybe 10-15-20%,” Al Rumhy said after delivering Petronet’s foundation day lecture in New Delhi, Press Trust added.

The 5 million tonne a year LNG terminal is expected to be ready by 2018.

“We have been in discussions with Petronet for the past two months,” he added.

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