Mitsui targets stake in Swan LNG’s Jafrabad FSRU project

Japanese shipper Mitsui OSK Lines is reportedly eyeing an 11 percent stake in Swan LNG’s FSRU project in Jafrabad, Gujarat.

In addition to Mitsui’s participation in the project, two Gujarat government entities, the Gujarat Maritime Board and Gujarat State Petronet are looking to secure 15 percent and 11 percent stakes, respectively, local media in India report citing a company proposal and sources close to the matter.

Besides securing a stake in the project, Mitsui would be contracted as a technical advisor for the project and supervisor of the FSRU construction.

Once the stake sale is complete, Swan LNG’s stake in the project would stand at 63 percent.

Swan LNG, a unit of Swan Energy is looking to develop a 5 million metric tonnes per annum (mmtpa) in order to develop the Indian gas market, which is projected to be one of the fastest growing in the world during the next two decades.

Black & Veatch has been selected to deliver critical elements of India’s first FSRU-based liquefied natural gas (LNG) import terminal including the jetty topside and onshore LNG facilities.

The FSRU, to be built at a South Korean shipyard, will be moored to a fixed jetty and regasify imported LNG to enable distribution by pipeline and road tanker. The facility is expected to go on-stream by early-2020.

LNG World News Staff