India offers 10 pc stake to Qatar in State-run Petronet

India offers 10 pc stake to Qatar in State-run PetronetUnion Petroleum Minister, Murli Deora met Qatari deputy premier and energy minister, Abdullah Bin Hamad Al-Attiyah in New Delhi and discussed various issues of bi-lateral importance, including energy import and co-operation.

Mr. Deora set a proposal to offer 10 per cent stakes to Qatar in state run liquefied natural gas producer, Petronet LNG Ltd. Mr. Deora said, "This is a proposal that we made and in turn we will get a stake in RasGas. Qatar has been our most trusted and reliable friend and we hold this friendship in high esteem."
 
Four state-run energy companies including GAIL India, Oil and Natural Gas Corp, Indian Oil Corp and Bharat Petroleum Corp hold 12.5 per cent equity share in Petronet while GDF International and the Asian Development Bank holds 10 per cent and 5.2 per stake in the LNG producer. Rest of 34.8 per cent stake is owned by public.
 
It should be recalled that Qatar has already announced to increase supply of 600,000 tonnes of LNG to India. The gulf nation would supply six 'loose' LNG cargoes in February besides some additional cargo to satisfy energy needs of the country.

Qatari Oil Minister, Abdullah bin Hamad al-Attiyah said, "Deora requested for extra cargoes and I simply can't say no to him. We will put this proposal to our relevant department and they will take a decision." He said that his country believes in long terms ties with India and do its best for cooperation in energy sector.

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