DOHA: Qatar Petroleum (QP) has expressed its interest to buy a 5.2 percent stake in Petronet LNG, one of the fastest growing companies in the Indian energy sector, from Asian Development Bank (ADB), Indian media reported.
This will possibly be the first instance of a liquefied natural gas supplier picking up stake in an importing firm, according to Indian news agency Press trust of India (PTI).
The ADB had been keen to sell its 5.2 percent stake in Petronet since last year.
Petronet, which is registered as a private company even though India’s public sector oil firms hold 50 per cent stake and that country’s Oil Secretary as its chairman, has approached QP’s 100 per cent subsidiary Qatar Petroleum International offering ADB’s stake, the report added.
The Peninsula
